NOON SNAPSHOT - Asia Markets Summary

06 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 $65.13/bbl down $1.61/bbl Aug BRENT $65.00/bbl down 61 cents/bbl

Crude futures moved lower on Monday, amid concerns over the global economy after recent down beat economic data from the US and Europe. There was no settlement for NYMEX Light Sweet Crude Futures (WTI) last Friday, therefore the change represents decline since settlement on Thursday 2 July.

NAPHTHA: Asian naphtha prices opened $11.50/tonne softer Monday. Second half August price indications were pegged at $583.00-586.00/tonne CFR (cost and freight) Japan, first half September at $576.50-579.50/tonne CFR Japan and second half September at $572.50-575.50/tonne CFR Japan.

BENZENE: Trades and discussions were sporadic, with notional selling ideas heard at $865/tonne FOB Korea. No bids could be located as softer crude values kept market sentiment cautious.

TOLUENE: Prices slipped $5/tonne to $750-765/tonne FOB Korea amid lower crude values, with offers reported at $765-770/tonne FOB Korea for August loading and limited bids surfacing. Buying intentions for September cargoes were reported at $720-730/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
+44 20 8652 3214

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