NOON SNAPSHOT - Asia Markets Summary

20 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: $64.02/bbl, up 46 cents; Sep BRENT: $65.83/bbl, up 45 cents.

Crude futures steadied above the $64/bbl mark in Monday’s morning trade as better-than-expected US housing data continued to fuel optimism for a global economic recovery. Worries over the development of a potential tropical cyclone in the central Atlantic also provided some price support.

NAPHTHA: Asian naphtha prices opened $14/tonne firmer Monday. First half September price indications were pegged at $566.50-569.50/tonne CFR (cost and freight) Japan, second half September at $565.50-568.50/tonne CFR Japan and first half October at $564.50-567.50/tonne CFR Japan.

BENZENE: Prices were hovering at about $855-865/tonne FOB (free on board) Korea amid thin discussions on Monday morning. Offers for September loading cargoes at $865-870/tonne FOB Korea were countered by bids at $855/tonne FOB Korea.

TOLUENE: Prices edged higher with an offer for September loading at $780-790/tonne FOB Korea countered by bids at $760-765/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing.

By: Staff Reporter
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