EVENING SNAPSHOT - Asia Markets Summary

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

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

CRUDE: August WTI $61.16/bbl down 38 cents August BRENT $62.72/bbl down 37 cents

Crude futures weakened in afternoon trade in Asia as markets turned cautious following Wednesday’s strong gains. NYMEX light crude for August delivery gained $2.02/bbl overnight. China’s data showing a 7.9% annual growth in second-quarter GDP has had little impact on trade. At 4:30pm Singapore time (0830 GMT), the Dubai Mercantile Exchange (DME) September Oman futures contract settled at $63.37/bbl.

NAPHTHA: Asian naphtha prices closed firmer Thursday. First half September price indications were pegged at $548.50-549.50/tonne CFR (cost and freight) Japan, second half September at $547.50-548.50/tonne CFR Japan and first half October at $546.50-547.50/tonne CFR Japan.

BENZENE: Prices were notionally pegged higher at $835-845/tonne FOB (free on board) Korea amid a lack of discussions for August. Offers for September lots at $847-850/tonne FOB Korea were countered by bids at $820-830/tonne FOB Korea.

TOLUENE: Prices firmed further to $750-765/tonne FOB Korea as August bids were heard at $750-757/tonne FOB Korea. But offers were much higher at $780/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

 

By: Staff Reporter
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