EVENING SNAPSHOT - Asia Markets summary

30 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: Jun WTI $51.67/bbl up 70 cents/bbl Jun BRENT $51.19/bbl up 41 cents/bbl

Crude futures strengthened on Thursday, prices rose amid a further rally in Asian and European equity markets. The unexpected large decline in US gasoline stocks of 4.7m bbls also continued to provide support ahead of the start of the US driving season. At 8:30 GMT on Thursday, the Dubai Mercantile Exchange (DME) June Oman futures contract settled at $49.71/bbl, up 39 cents/bbl on Wednesday’s close.

NAPHTHA: Asian naphtha prices closed firmer Thursday. First half June price indications were pegged at $426.00-427.00/tonne CFR (cost and freight) Japan, second half June at $426.50-427.50//tonne CFR Japan and first half July at $427.00-428.00/tonne CFR Japan.

BENZENE: Prices were at $575-585/tonne FOB (free on board) Korea with two June loading cargoes heard traded at $575/tonne FOB Korea. Offers for June parcels at $585-590/tonne FOB Korea met bids at $570-575/tonne FOB Korea.

TOLUENE: Prices were higher at $590-600/tonne FOB Korea with a bid for second half May loading heard at $590/tonne FOB Korea. Bids for any June loading were heard at $585-590/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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