EVENING SNAPSHOT - Asia Markets Summary

16 July 2010 10:55  [Source: ICIS news]

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

CRUDE: Aug WTI $76.67/bbl, up 5 cents BRENT: Sep $76.12/bbl, up 3 cents
US crude futures inched up 5 cents at $76.67/bbl, as disappointing US economic data cast doubts over global energy demand recovery. At 8:30 GMT, the Dubai Mercantile Exchange (DME) September Oman futures contract settled at $73.45/bbl, down 21 cents on Thursday’s close.

NAPHTHA: $623.00-625.00/tonne CFR Japan, down $3.50-4.50
Asian first half September naphtha ended lower on Friday at $623-625/tonne CFR Japan. The Asian naphtha crack spread hit a fresh 13-month low of $59.80/tonne versus Brent. Meanwhile the second half September contract was valued at $627.00-629.00/tonne CFR Japan and the first half October contract stood at $630.50-632.50/tonne CFR Japan.

BENZENE: $760-770/tonne FOB Korea, up $5
Buy-sell indications for September parcels were cited at $760-773/tonne FOB Korea, but price indications narrowed to $765-770/tonne FOB Korea towards the end of the day.

TOLUENE: $710-725/tonne FOB Korea, stable
Bids for September parcels were mostly cited around $700-705/tonne FOB Korea during the day while buying indications for August cargoes were placed slightly below $700/tonne FOB Korea. Selling ideas for September cargoes were mostly cited around $725-730/tonne FOB Korea but no deals were heard to have been concluded by the close of business.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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