EVENING SNAPSHOT - Asia Markets summary

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

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

CRUDE: May WTI $50.85/bbl up $2.46 May BRENT $51.01/bbl up $2.57/bbl

Crude futures surged on Thursday pushing back above $51/bbl amid strong gains in European and Asian stock markets and more positive economic news from the US. At 8:30 GMT on Wednesday, the Dubai Mercantile Exchange (DME) June Oman futures contract settled at $48.64/bbl, up $1.34/bbl on the previous day’s close.

NAPHTHA: Asian naphtha prices closed firmer Thursday. Second half May price indications were pegged at $450.00-451.00/tonne CFR (cost and freight) Japan, first half June at $442.00-443.00/tonne CFR Japan and second half June at $435.00-436.00/tonne CFR Japan.

BENZENE: Prices were stable-to-weak at $565-580/tonne FOB Korea with a deal for any May loading heard at $567/tonne FOB Korea. An offer was heard at $583/tonne FOB Korea countered by bids at $565-567/tonne FOB Korea for May lifting.

TOLUENE: Prices edged higher to $580-590/tonne FOB Korea with offers for any May loading heard at $595-605/tonne FOB Korea against bids at $575-585/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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