NOON SNAPSHOT - Asia Markets Summary

26 November 2008 04:00  [Source: ICIS news]

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

 

CRUDE: January WTI $51.22/bbl up 45 cents January BRENT $50.80/bbl down 45 cents

 

Crude futures strengthened on Wednesday, after falling nearly 7% the previous day. Crude prices had slumped on Tuesday after data revealed that the US economy shrank at its highest rate in seven years.

 

NAPHTHA: Asian naphtha prices opened softer Wednesday. First half January price indications were pegged at $287.50-290.50/tonne CFR (cost and freight) Japan, second half January at $287.50-290.50/tonne CFR Japan and first half February at $292.50-295.50/tonne CFR Japan.

 

BENZENE: Prices were notionally rolled-over at $320-330/tonne FOB (free on board) Korea as no fresh buy-sell indications surfaced.

 

TOLUENE: Prices dipped to $390-400/tonne FOB Korea on Wednesday with an offer heard at $400/tonne FOB Korea for January lifting. A bid also surfaced at $330/tonne CFR Taiwan for a December arrival parcel.

 

For more pricing intelligence, please visit ICIS pricing.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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