NOON SNAPSHOT - Asia Markets Summary

04 August 2010 05:10  [Source: ICIS news]

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

CRUDE: Sep WTI $82.37/bbl, down 18 cents/bbl ; Sep BRENT $82.55/bbl, down 13 cents/bbl
Crude futures eased on Wednesday morning amid an unexpected rise in US gasoline stocks. Crude had risen for the fourth consecutive session on Tuesday on a weak US dollar.

NAPHTHA: $687–690/tonne CFR Japan, up $10–14
Asian second-half September contract was notionally assessed higher at $687–690/tonne CFR Japan on Wednesday, driven up by robust crude futures at above $82/bbl. The first-half October contract was valued at $688.50–691.50/tonne CFR Japan, while the second-half October contract stood at $690.50–693.50/tonne CFR Japan.

BENZENE: $885–895/tonne; up $5
Sentiment remained buoyant on Wednesday morning, as crude futures had firmed overnight. Offers for September loading were cited at $895/tonne FOB Korea, while the bid-offer range for October was at $890–895/tonne FOB Korea.

TOLUENE: $775–785/tonne; down $10
Prices slipped on Wednesday morning despite firm crude and benzene values. Limited firm discussions were heard, with buy-sell indications for September-lifting lots hovering at $775–785/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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