EVENING SNAPSHOT - Asia Markets Summary

30 November 2009 10:01  [Source: ICIS news]

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

CRUDE: Jan WTI $76.47/bbl, up 42 cents/bbl ; Jan BRENT $77.59/bbl, up 41 cents/bbl

Crude futures gained ground on Monday afternoon in Asia, supported by a weaker US dollar. However, attention was still focussed on Dubai debt problems. At 8:30 GMT on Monday, the Dubai Mercantile Exchange (DME) January Oman futures contract settled at $77.39/bbl, up $3.34/bbl on the previous day’s settlement.

NAPHTHA: First-half January open-spec naphtha was assessed at $725.00-726.00/tonne CFR (cost and freight) Japan, up around $28-29/tonne to new 13-month highs although there were no trades. Last Friday, notional assessments for naphtha had fallen sharply during Asian trading as worries over Dubai's debt depressed crude prices. The second-half January open-spec naphtha contract was valued at $718.00-719.00/tonne CFR Japan. The first-half February contract valued at $712.00-713.00/tonne CFR Japan.

BENZENE: Buy-sell indications for February parcels were cited at $850-890/tonne FOB (free on board) Korea but subsequently rose to $880-900/tonne FOB Korea. An inter-trade was heard at $895/tonne FOB Korea for any February shipment.

TOLUENE: Asian toluene discussions firmed on the back of higher crude values, with bids for January and February cited at $825/tonne FOB Korea, and an unconfirmed January deal heard at $830/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Pearl Bantillo
+65 6780 4359

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