NOON SNAPSHOT - Asia Markets summary

02 July 2009 05:00  [Source: ICIS news]

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

CRUDE: Aug WTI $69.02/bbl down 31 cents/bbl Aug BRENT $68.55/bbl down 24 cents/bbl

Crude futures eased further on Thursday. Prices had fallen below $70/bbl the previous day after a larger than expected build in US gasoline stocks. This factor, along with further downbeat economic data, served to dent optimism regarding a recovery in demand.

NAPHTHA: Asian naphtha prices opened slightly softer. Second half August price indications were pegged at $614.50-617.50/tonne CFR (cost and freight) Japan, first half September at $610.00-613.00/tonne CFR Japan and second half September at $606.50-609.50/tonne CFR Japan.

BENZENE: Prices rose on Thursday morning despite a slip in overnight crude values to $69/bbl. Bids for August loading cargoes firmed to $840-845/tonne FOB (free on board) Korea, with no offers heard.

TOLUENE: Prices were largely stable from Monday’s close with offers for August loading heard at $770/tonne FOB Korea against bids at $730-750/tonne FOB Korea. A deal was heard at $775/tonne FOB Korea for August loading, which could not be confirmed.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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