NOON SNAPSHOT- Asia Markets Summary

23 July 2010 05:06  [Source: ICIS news]

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

CRUDE: Sep WTI $79.15/bbl, down 15 cents BRENT: $77.62/bbl, down 20 cents
US crude futures steadied above $79/bbl following a strong overnight rebound on fears of a tropical storm forming in the Gulf of Mexico.

NAPHTHA: $656.50-659.50/tonne CFR Japan, up $18.50-19.50
Asian first half September jumped on Friday at $656.50-659.50/tonne CFR Japan, as US crude futures topped $79/bbl. The contango between first half September and October contracts narrowed to $6.00/tonne from $6.50/tonne on the previous session. Meanwhile the second half September contract was valued at $659.50-662.50/tonne CFR Japan and the first half October contract stood at $662.50-665.50/tonne.

BENZENE: $815-825/tonne, up $25
Prices were on an uptrend amid a bullish turn in crude futures seen overnight Thursday. Offers for September lifting at $830/tonne FOB Korea were countered by bids at $810-816/tonne FOB Korea.

TOLUENE: $740-755/tonne, up $20
Prices shot up on Friday morning supported by a hike in energy futures. Offers for September lifting were heard at $755/tonne FOB Korea that met bids at $740-745/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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