EVENING SNAPSHOT - Asia Markets summary

30 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: Aug WTI $72.16/bbl up 67 cents Aug BRENT $71.74/bbl up 67 cents/bbl

Crude futures strengthened on Tuesday afternoon, after hitting new eight month highs earlier in session. Unrest in Nigeria, a major OPEC producer added upward pressure. However, the rise was also believed to have been associated with fund related buying amid high volumes in Asian trading. At 8:30 GMT on Tuesday, the Dubai Mercantile Exchange (DME) August Oman futures contract settled at $70.80/bbl, up $1.38/bbl on the previous day.

NAPHTHA: Asian naphtha prices closed $33/tonne higher Tuesday. First half August price indications were pegged at $643.50-644.50/tonne CFR (cost and freight) Japan, second half August at $637.50-638.50/tonne CFR Japan and first half September at $633.00-634.00/tonne CFR Japan.

BENZENE: Prices firmed further in the afternoon with a deal heard for any August loading at $825/tonne FOB (free on board) Korea. Offers for August loading were cited at $840/tonne FOB Korea countered by bids at $820-825/tonne FOB Korea.

TOLUENE: Prices edged lower to $775-785/tonne FOB Korea as offers for second half July and first half August loading cargoes hovered at $785-790/tonne FOB Korea. No bids were heard.

For more pricing intelligence, please visit ICIS pricing

 


By: Staff Reporter
+44 20 8652 3214



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