EVENING SNAPSHOT - Asia Markets Summary

24 August 2010 14:11  [Source: ICIS news]

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

CRUDE: Oct WTI $72.45/bbl, down 64 cents ; Oct BRENT $73.09/bbl, down 53 cents
Crude futures softened on Tuesday, undermined by a stronger US dollar, equity market declines. Further downward pressure was generated by worries over high US inventory levels for crude and products such as gasoline. At 8:30 GMT, the Dubai Mercantile Exchange (DME) October Oman futures contract settled at $70.81/bbl, down $1.06/bbl from the previous close.

NAPHTHA: $662-664/tonne, down $4
Asia naphtha values were assessed weaker on Tuesday afternoon amid softer crude. The first-half October contract was assessed at $662-664/tonne. Meanwhile, the second-half October contract was valued at $659.00-661.00/tonne. The first-half November contract was valued at $656.50-658.50/tonne.

BENZENE: $860-865/tonne, down $5
Prices were assessed $5/tonne lower on Tuesday. Any October offers were cited at $875/tonne most of the day before slipping to $865/tonne late in the afternoon. An any November deal was cited at $860/tonne.

TOLUENE: $675-775/tonne, steady
Trade remained thin for toluene. Buying indications for October parcels remained at $755/tonne against selling indications of $770/tonne.

For more pricing intelligence, please visit ICIS pricing

By: Staff Reporter
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