EVENING SNAPSHOT - Asia Markets summary

16 June 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: Jul WTI $71.38/bbl up 76 cents/bbl Aug BRENT $71.11/bbl up 87 cents /bbl

Crude futures strengthened on Tuesday afternoon, regaining ground lost during the morning. Crude rose amid a fall in the value of the US dollar against the Euro, and ongoing unrest in Iran following a general election. Meanwhile, weekly US inventory data is expected to reveal a further fall in crude stocks, but rises in stocks of gasoline and distillates. At 8:30 GMT on Tuesday, the Dubai Mercantile Exchange (DME) August Oman futures contract settled at $70.30/bbl, down 59 cents/bbl on the previous close.

NAPHTHA: Asian naphtha prices closed steady Tuesday. First half August price indications were pegged at $618.50-619.50/tonne CFR (cost and freight) Japan, second half August at $616.50-617.50/tonne CFR Japan and first half September at $616.50-617.50/tonne CFR Japan.

BENZENE: Prices eased on Tuesday afternoon to $755-765/tonne FOB (free on board) Korea. Bids for August loading cargoes surfaced at $745-755/tonne FOB Korea, with no offers heard.

TOLUENE: Prices were hovering at about $760-770/tonne FOB Korea amid thin trading. A bid was heard for H2 July loading at $755/tonne FOB Korea, while bids for August were heard at $750-760/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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