EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: Aug WTI $64.28/bbl down $2.45/bbl Aug BRENT $64.13/bbl down $1.48/bbl

Crude future fell back sharply on Monday. Prices weakened amid fading hopes of a recovery in the global economy following the release of downbeat economic data last week. Asian equity markets also lost ground while the US dollar firmed against the Euro making dollar based commodities such as crude more expensive. At 8:30 GMT on Monday, the Dubai Mercantile Exchange (DME) September Oman futures contract settled at $64.31/bbl, down $2.64/bbl on the previous close

NAPHTHA: Asian naphtha prices closed softer Monday. Second half August price indications were pegged at $588.00-589.00/tonne CFR (cost and freight) Japan, first half September at $581.50-582.50/tonne CFR Japan and second half September at $577.50-578.50/tonne CFR Japan.

BENZENE: Asia’s benzene values slipped $10-20/tonne at $830-850/tonne FOB (free on board) Korea on Monday as falling crude values weighed on the market. Offers for August loading cargoes were heard at $850/tonne FOB Korea against bids at $825-830/tonne FOB Korea.

TOLUENE: Price discussions retreated to $740-760/tonne FOB Korea amid lower buy-sell indications on Monday. Offers were at $760-770/tonne FOB Korea for any August cargoes, against bids largely capped at $740/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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