EVENING SNAPSHOT - Asia Market summary

09 June 2009 11:00  [Source: ICIS news]

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

CRUDE: July WTI $68.69/bbl up 60 cents July Brent $68.51/barrel up 63 cents

US crude futures remained firm in afternoon trade in Asia but off the intra-day high of $69.37/bbl helped by the weakness in the US dollar and expectations of a decline in US crude stockpiles. The data would be released later in the day. Growing expectations of a global economic recovery were also driving up investments in commodities.

NAPHTHA: Asian naphtha prices were firmer Tuesday. Second half July price indications were pegged at $568.00-569.00/tonne CFR (cost and freight) Japan, first half August at $565.50-566.50/tonne CFR Japan and second half August at $564.00-565.00/tonne CFR Japan.

BENZENE: Prices rose to $710-725/tonne FOB (free on board) Korea with three July cargoes reported traded at $710-720/tonne FOB Korea. Two more parcels for August shipment were heard traded at $723-725/tonne FOB Korea.

TOLUENE: Prices rose to $705-720/tonne FOB Korea on the back of bids for July heard at $700-715/tonne FOB Korea. Offers were limited.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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