NOON SNAPSHOT - Asia Markets Summary

01 May 2009 05:00  [Source: ICIS news]

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

CRUDE: Jun WTI $50.86/bbl down 26 cents/bbl Jun BRENT $50.51/bbl down 29 cents

Crude futures weakened on Friday morning in Asia, with much of Asia and Europe closed for the May Day public holiday. Concerns over the outbreak of swine flu remained a factor but this has been mitigated by recent upbeat economic news and the US gasoline inventory decline.

NAPHTHA: Asian naphtha prices opened slightly down Friday. Second half June price indications were pegged at $423.50-424.50/tonne CFR (cost and freight) Japan, first half July at $424.00-425.00/tonne CFR Japan and second half July at $424.50-425.50/tonne CFR Japan.

BENZENE: Prices were notionally assessed unchanged at $575-585/tonne FOB (free on board) Korea as no price indications surfaced. Holidays in Singapore, South Korea and China ensured that trading came to a halt in the region.

TOLUENE: Prices were notionally pegged stable at $590-600/tonne FOB Korea on Friday morning. The market was subdued due to holidays in South Korea, China and Singapore.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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