EVENING SNAPSHOT - Asia Markets Summary

26 March 2009 09:50  [Source: ICIS news]

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

CRUDE: May WTI $53.54/bbl up 77 cents May BRENT $52.74/bbl up 99 cents

Crude futures gained ground on Thursday, recovering from losses in the previous day. Prices climbed amid weakness in the US dollar and rises in Asian stock markets which were buoyed by a more upbeat US economic data on new homes and durable goods. At 8:30 GMT on Thursday, the Dubai Mercantile Exchange (DME) May Oman futures contract settled at $50.58/bbl, up 25 cent/bbl from the previous day’s close.

NAPHTHA: Asian naphtha prices closed firmer Thursday. First half May price indications were pegged at $476.50-477.50/tonne CFR (cost and freight) Japan, second half May at $470.50-471.50/tonne CFR Japan and first half June at $465.50-466.50/tonne CFR Japan.

BENZENE: May bid-offer level firmed further on Thursday afternoon with offers heard at $545-550/tonne FOB (free on board) Korea against bids at $525-535/tonne FOB Korea.

TOLUENE: Prices went up to $565-575/tonne FOB Korea with three H1 May loading cargoes heard traded at $574/tonne FOB Korea. Offers were heard at $580-590/tonne FOB Korea for May parcels against bids at $565-570/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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