NOON SNAPSHOT - Asia Markets Summary

03 February 2010 03:35  [Source: ICIS news]

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

CRUDE: Mar WTI $76.80/bbl down 43 cents/bbl BRENT Mar $75.71/bbl down 35 cents/bbl
Crude futures eased to below $77/bbl on Wednesday morning, following an overnight settlement of $2.80/bbl on strong U.S. corporate earnings and improved economic data.

NAPHTHA: First-half March open-spec naphtha jumped $14.50/tonne from Tuesday to $698-701/tonne CFR (cost and freight) Japan on Wednesday morning, tracking strong overnight gains in U.S. crude futures which were near $77/bbl. The second-half March naphtha contract was assessed at $693.50-696.50/tonne CFR Japan, while the first-half April contract was pegged at $689.50-692.50/tonne CFR Japan.

BENZENE: Prices moved up in line with hikes in energy values, with bids for March loading heard at $965/tonne FOB Korea. An offer for an April shipment was heard at $990/tonne FOB Korea that met a bid at $980/tonne FOB Korea.

TOLUENE: Sentiment improved as prices neared $900/tonne FOB Korea mark with offers heard at $900/tonne FOB Korea versus bids at $880/tonne FOB Korea for March lifting cargoes.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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