NOON SNAPSHOT - Asia Markets summary

27 March 2009 04:00  [Source: ICIS news]

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

CRUDE: May WTI $53.87/bbl down 47 cents May BRENT $53.00/bbl down 46 cents

Crude futures weakened on Friday morning in Asia, after hitting new highs for the year overnight amid renewed optimism on the US economy. Asian stocks markets also rallied on Friday. Meanwhile, there were further reports of increased compliance with recent OPEC supply cuts.

NAPHTHA: Asian naphtha prices opened steady Friday. First half May price indications were pegged at $475.00-478.00/tonne CFR (cost and freight) Japan, second half May at $469.00-472.00/tonne CFR Japan and first half June at $464.00-467.00/tonne CFR Japan.

BENZENE: Prices were poised for increases with a May loading cargo heard offered at $600/tonne FOB Korea. No bids surfaced.

TOLUENE: Prices were notionally kept unchanged at $565-575/tonne FOB Korea amid lacklustre trading. No buy-sell indications were heard.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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