NOON SNAPSHOT - Asia Markets Summary

08 March 2010 03:41  [Source: ICIS news]

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

CRUDE: Apr WTI $81.96/bbl up 46 cents/bbl BRENT Apr $80.40/bbl up 51 cents/bbl
Crude futures firmed on Monday pushing US crude futures towards $82/bbl amid a weak US dollar and Asian equity market gains.

NAPHTHA: Second-half naphtha contracts were assessed at $755.00-758.00/tonne CFR Japan, up from $746.00-748.00/tonne CFR Japan on Friday’s close. The surge was attributed to the rally in crude oil futures, as well as news that the US lost fewer jobs than earlier expected in February. First-half May naphtha cargoes were pegged at $748.00-751.00/tonne CFR Japan, while second-half May cargoes were priced at $743.00-746.00/tonne CFR Japan. Prices of first-half June naphtha contracts stood at $739.00-742.00/tonne CFR Japan.

BENZENE: Buy-sell indications for May parcels were heard around $900-915/tonne FOB Korea, up from the high $800s/tonne FOB Korea last Friday.

TOLUENE: A bid surfaced on Monday morning at $840/tonne FOB Korea for any April loading, up $5-10/tonne from last Friday. However, absence of sellers led buyers to retreat from the market. Buy-sell indications for May lifting were cited at $855-870/tonne FOB Korea. Market players said sentiment grew firm on strong crude futures, alongside with higher talks in benzene and styrene monomer (SM).

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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