EVENING SNAPSHOT - Asia Markets summary

01 April 2009 11:00  [Source: ICIS news]

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

CRUDE: May WTI $48.33/bbl down $1.33 May BRENT $48.13/bbl down $1.10

Crude futures prices declined more than $1/bbl on Wednesday, erasing overnight gains. Prices fell following a larger than expected build in US crude stocks and further downbeat economic data which raised further concerns over global demand. At 8:30 GMT on Wednesday, the Dubai Mercantile Exchange (DME) May Oman futures contract settled at $47.30/bbl, up 62 cents/bbl on the previous day’s close.

NAPHTHA: Asian naphtha prices closed softer Wednesday. Second half May price indications were pegged at $444.50-445.50/tonne CFR (cost and freight) Japan, first half June at $436.50-437.50/tonne CFR Japan and second half June at $429.50-430.50/tonne CFR Japan.

BENZENE: Prices firmed during Wednesday afternoon’s trading to $565-575/tonne FOB (free on board) Korea. Two deals for May lifting were heard at $572-575/tonne FOB Korea, with a third June parcel heard traded at $567/tonne FOB Korea.

TOLUENE: Prices were at $570-580/tonne FOB Korea with a deal for any May loading heard at $580/tonne FOB Korea. A bid for second half April lifting was cited at $565/tonne FOB Korea, while May bids were heard at $570-580/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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