EVENING SNAPSHOT - Asia markets summary

30 March 2009 11:00  [Source: ICIS news]

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

CRUDE: May WTI $50.53/bbl down $1.85 May BRENT $50.42/bbl down $1.56

Crude futures fell sharply on Monday in Asia, undermined by a strengthening in the US dollar against the Euro and downbeat global economic news. Stock markets in Asia and Europe declined on Monday. Meanwhile, fears over the US car industry were heightened by news that the US government had rejected recovery plans from GM and Chrysler. News of lower Japanese industrial output in February added concerns over demand weakness. At 8:30 GMT on Monday, the Dubai Mercantile Exchange (DME) May Oman futures contract settled at $48.98/bbl, down $2.46/bbl on last Friday’s close.

NAPHTHA: Asian naphtha prices closed softer Monday. First half May price indications were pegged at $459.00-460.00/tonne CFR (cost and freight) Japan, second half May at $453.00-454.00/tonne CFR Japan and first half June at $447.50-448.50/tonne CFR Japan.

BENZENE: Prices were stable-to-weak at $580-585/tonne FOB(free on board)  Korea, reflecting three deals heard within this range for May loading cargoes.

TOLUENE: Prices were notionally kept unchanged at $575-585/tonne FOB Korea amid continued thin trading. Offers were heard for second half April at $588/tonne FOB Korea and at $590-595/tonne FOB Korea for May loading.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly