EVENING SNAPSHOT - Asia Markets Summary

01 July 2009 11:00  [Source: ICIS news]

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

CRUDE: Aug WTI $71.11/bbl up $1.22 Aug BRENT $70.50/bbl up $1.20/bbl

Crude future rose more than $1/bbl on Wednesday afternoon, recovering much of the ground lost the previous day. Prices were buoyed by a larger than expected decline in US crude stocks. At 8:30 GMT on Wednesday, the Dubai Mercantile Exchange (DME) August Oman futures contract settled at $70.34/bbl, up 36 cents/bbl on the previous day.

NAPHTHA: Asian naphtha prices closed $18.50/tonne softer Wednesday. Second half August price indications were pegged at $619.00-620.00/tonne CFR (cost and freight) Japan, first half September at $614.50-615.50/tonne CFR Japan and second half September at $611.00-612.00/tonne CFR Japan.

BENZENE: Prices firmed to Tuesday’s closing levels as crude values rose in the afternoon. Offers for August parcels at $835/tonne FOB Korea met bids at $805-820/tonne FOB Korea.

TOLUENE: Prices were largely stable compared with the morning at $760-770/tonne FOB Korea. Offers for August loading at $775-785/tonne FOB Korea were countered by bids at $752-762/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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