EVENING SNAPSHOT - Asia Markets Summary

23 September 2009 11:00  [Source: ICIS news]

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

CRUDE: Nov WTI $71.57/bbl down 19 cents Nov BRENT $70.27/bbl down 26 cents/bbl

Crude futures weakened on Wednesday afternoon, giving back some of the previous day’s large gains. Crude fell after initial US inventory data revealed an unexpected build in domestic crude stocks and a larger than forecast rise in gasoline stocks. Traders now await the release of more widely followed US Government inventory data due out later in the day. At 8:30 GMT on Wednesday, the Dubai Mercantile Exchange (DME) November Oman futures contract settled at $70.35/bbl, up $1.01/bbl on the previous day.

NAPHTHA: Asian naphtha prices closed steady Wednesday. First half November price indications were pegged at $619.00-620.00/tonne CFR (cost and freight) Japan, second half November at $617.00-618.00/tonne CFR Japan and first half December at $615.50-616.50/tonne CFR Japan.

BENZENE: Buy-sell indications were pegged at $735-755/tonne FOB (free on board) Korea for H2 October shipment, down $10/tonne from morning’s level. Bids were cited at $735/tonne FOB Korea for any November loading but met with no selling interests.

TOLUENE: A fixture was reported at $735/tonne FOB Korea for second half October shipment during open market trading. Offers slipped $10/tonne from morning’s level to $724-725/tonne FOB Korea for any November loading, against bids at $715-720/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing


By: Staff Reporter
+44 20 8652 3214

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