EVENING SNAPSHOT - Asia Markets Summary

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

CRUDE: Jan WTI $76.55/bbl, up 53 cents/bbl ; Jan BRENT $77.09/bbl, up 63 cents/bbl

Crude futures strengthened on Wednesday afternoon in Asia after falling more than $1.00/bbl in the previous session. Crude gained ground amid a decline in the US dollar and firmer equity markets. Traders await official US Government inventory data due out later today. Independent industry data revealed a large build in US crude stocks the previous day.

NAPHTHA: First-half January open-spec naphtha was notionally assessed at $702.50-711.50/tonne CFR (cost and freight) Japan, unchanged on the previous day. The second-half January open-spec naphtha contract was valued at $699.50-708.50/tonne CFR Japan. The first half February contract valued at $695.00 - 701.50/tonne CFR Japan.

BENZENE: Buy-sell indications for January parcels were cited at $880-895/tonne FOB (free on board) Korea, big-berth condition, early Wednesday. Buying indications subsequently rose to $895-900/tonne FOB Korea with a deal concluded at $900/tonne FOB Korea for any-January shipment.

TOLUENE: Bids and offers for  second-half December shipments were heard up $5/tonne at $830-840/tonne FOB Korea, bolstered by rising energy values.

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