EVENING SNAPSHOT - Asia Markets summary

05 May 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: Jun WTI $54.20/bbl down 27 cents/bbl Jun BRENT $54.20/bbl down 38 cents/bbl

Crude futures weakened on Tuesday afternoon, ahead of the release of US inventory data which is expected to reveal a further build in crude stocks. Prices had been buoyed the previous day by upbeat economic data from the US.  At 8:30 GMT on Tuesday, the Dubai Mercantile Exchange (DME) July Oman futures contract settled at $53.54/bbl, up 86 cents/bbl on the previous close.

NAPHTHA: Asian naphtha prices closed $10/tonne firmer Tuesday. Second half June price indications were pegged at $466.50-467.50/tonne CFR (cost and freight) Japan, first half July at $467.00-468.00/tonne CFR Japan and second half July at $468.00-469.00/tonne CFR Japan.

BENZENE: Buying indications for June cargoes firmed to as high as at $595/tonne FOB Korea, up $15/tonne from this morning. Meanwhile, an offer at $605/tonne FOB Korea for June delivery was subsequently withdrawn.

TOLUENE: Bids for June parcels rose to $605-610/tonne FOB Korea against offers at $620/tonne FOB Korea. A deal was heard finalised at $610/tonne FOB Korea for any June shipment.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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