EVENING SNAPSHOT - Asia Markets Summary

08 July 2009 10:59  [Source: ICIS news]

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

CRUDE: Aug WTI $62.24/bbl down 69 cents/bbl Aug BRENT $62.69/bbl down 54 cents/bbl

Crude future fell on Wednesday afternoon for the sixth consecutive day amid concerns over the strength of the global economy and oil demand. Confidence was further undermined by a larger-than-expected rise in US distillate stocks. However, trades still await official US government inventory data due out later in the day.
At 8:30 GMT on Wednesday, the Dubai Mercantile Exchange (DME) September Oman futures contract settled at $62.60/bbl, down $1.35/bbl on the previous close.

NAPHTHA: Asian naphtha prices closed $24/tonne softer Wednesday. Second half August price indications were pegged at $563.50-564.50/tonne CFR (cost and freight) Japan, first half September at $558.50-559.50/tonne CFR Japan and second half September at $554.50-555.50/tonne CFR Japan.

BENZENE: Prices were lower with offers heard at $835-841/tonne FOB (free on board) Korea versus bids at $810-820/tonne FOB Korea for August loading cargoes.

TOLUENE: Trading remained thin with limited indications heard. Offers for August parcels at $750-755/tonne FOB Korea met a bid at $740/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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