EVENING SNAPSHOT - Asia Markets Summary

12 January 2009 10:00  [Source: ICIS news]

SINGAPORE (ICIS news)--Here is Monday’s end-of-day Asian oil and chemical market summary from ICIS pricing.

CRUDE: February WTI $39.23/bbl down $1.60/bbl February BRENT $43.27/bbl down $1.15/bbl

Crude futures again tumbled below the $40/bbl mark as deepening recessionary fears and an acute slowdown in consumption levels overshadowed Saudi Arabia’s pledge to cut output 300,000 bbls in excess of its agreed OPEC production targets.

NAPHTHA: Asian naphtha prices closed firmer Monday. Second half February price indications were pegged at $397.50-398.50/tonne CFR (cost and freight) Japan, first half March at $390.50-391.50/tonne CFR Japan and second half March at $385.50-386.50/tonne CFR Japan.

BENZENE: Buying indications were cited at $328/tonne FOB (free on board) Korea for February parcels and at $330/tonne FOB Korea for March cargoes. Selling indications remained limited throughout the day.

TOLUENE: Trading was thin on Monday afternoon with a buying indication for any March heard at $482/tonne FOB Korea. Offers for March shipment surfaced at $490/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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