EVENING SNAPSHOT - Asia Markets Summary

25 November 2008 09:47  [Source: ICIS news]

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

 

CRUDE: January WTI $52.41/bbl down $2.09  January BRENT $51.88/bbl down $2.05

 

Crude prices weakened on $2/bbl on Tuesday afternoon, giving back a portion of the nearly 10% gain made the previous day. Prices had risen sharply on Monday amid a strong rally in stock markets and on expectations that OPEC will cut production.

 

NAPHTHA: Asian naphtha prices closed firmer Tuesday. First half January price indications were pegged at $293.00-294.00/tonne CFR (cost and freight) Japan, second half January at $299.00-300.00/tonne CFR Japan and first half February at $305.00-306.00/tonne CFR Japan.

 

BENZENE: Prices remained at $320-330/tonne FOB (free on board) Korea with a deal heard at $330/tonne FOB Korea for a second half December loading cargo. An offer was heard at $315/tonne CFR Singapore against a bid at $285/tonne CFR Singapore for December arrival.

 

TOLUENE: Prices edged higher further to $395-410/tonne FOB Korea on Tuesday afternoon with a deal heard at $410/tonne FOB Korea for first second December loading. A bid was heard for any January loading at $395/tonne FOB Korea.

 

 

For more pricing intelligence, please visit ICIS pricing. 

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Author: Staff Reporter
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