NOON SNAPSHOT - Asia Markets Summary

14 April 2010 04:56  [Source: ICIS news]

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

CRUDE May WTI $84.38/bbl up 33 cents/bbl BRENT May $84.99/bbl up 27 cents/bbl

Crude futures firmed on Wednesday supported by a weaker US dollar. Crude had lost ground the previous day following a rise in US crude inventory levels. Industry data revealed that US crude stocks rose by 1.4m bbls last week, which was inline with forecasts. Traders now await the release of more widely-followed US Government data later today.

NAPHTHA: Second half May open spec naphtha rose to $755.50-758.50/tonne CFR (cost and freight) Japan on Wednesday, up $3.50-4.50/tonne CFR Japan from a day ago as crude held above $84/bbl. First half June was valued at $752.00-$755.00/tonne CFR Japan, while second half June was pegged at $749.00-752.00/tonne CFR Japan.

BENZENE: Prices were notionally pegged at $995-1,005/tonne FOB Korea amid a dearth of discussions for May shipments. Deals were reported for June loading cargoes at $1,000/tonne FOB Korea.

TOLUENE: Limited talks were heard in the market, with prices notionally pegged stable at $905-915/tonne FOB Korea. Selling indications for June shipment at $925/tonne FOB Korea was met with buying indications at $918/tonne FOB Korea.

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