EVENING SNAPSHOT - Asia Markets Summary

17 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 $61.63/bbl down 39 cents September BRENT $63.22/bbl down 53 cents

Crude futures continued to weaken through Friday afternoon’s trade on a growing pessimism on economic recovery coupled with a stronger dollar.

At 4:30pm Singapore time (0830 GMT), the Dubai Mercantile Exchange (DME) September Oman futures contract settled at $63.84/bbl.

NAPHTHA: Asian naphtha prices closed firmer Friday. First half September price indications were pegged at $553.50-554.50/tonne CFR (cost and freight) Japan, second half September at $552.50-553.50/tonne CFR Japan and first half October at $551.50-552.50/tonne CFR Japan.

BENZENE: Prices slipped to $850-865/tonne FOB (free on board) Korea notionally amid a lack o August discussions. Offers were heard at $860-865/tonne FOB Korea versus bids at $840/tonne FOB Korea for September cargoes.

TOLUENE: Trading was active with deals for second half August and September loading confirmed at $762/tonne FOB Korea. Prices were notionally pegged at $755-765/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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