EVENING SNAPSHOT - Asia Markets Summary

07 August 2008 10:50  [Source: ICIS news]

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

 

CRUDE: September WTI $119.67/bbl up $1.09 September BRENT $118.15/bbl up $1.15

 

Crude made strong gains on Thursday afternoon in Asia, as supply concerns re-emerged as a major driver amid heightened tensions between the West and Iran. Supply disruption of crude from the Caspian area following an attack on a pipeline in Turkey added further upward pressure as did ongoing unrest in Nigeria. A larger than expected fall in US gasoline inventories provided further support.

 

NAPHTHA: Asian naphtha prices gained ground on Thursday afternoon, with second half Sep open spec naphtha notionally assessed at $1,022-1,023/tonne CFR (cost and freight) Japan, up about $13.50/tonne. A deal for first half Oct open spec naphtha was heard at $1,026/tonne CFR Japan.

 

BENZENE: Prices firmed marginally to $1,200-1,215/tonne FOB (free on board) Korea with bids heard at $1,195-1,199/tonne FOB Korea for September loading. No offers were heard.

 

TOLUENE: Prices edged higher from the morning to $1,110-1,120/tonne FOB Korea with offers heard at $1,123-1,125/tonne FOB Korea against bids at $1,100-1,105/tonne FOB Korea for September shipment.

 

 

For more pricing intelligence, please visit ICIS pricing.

 

 

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Author: Staff Reporter
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