EVENING SNAPSHOT - Asia Markets Summary

26 November 2008 09:42  [Source: ICIS news]

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

 

CRUDE: January WTI $51.30/bbl up 53 cents January BRENT $50.98/bbl up 63 cents

 

Crude prices firmed on Wednesday afternoon, moving back above $51/bbl after a fall of around 7% the previous day. Crude had slumped on Tuesday after data revealed that the US economy shrank at its highest rate in seven years.

 

NAPHTHA: Asian naphtha prices closed firmer Wednesday. First half January price indications were pegged at $297.50-298.50/tonne CFR (cost and freight) Japan, second half January at $297.50-298.50/tonne CFR Japan and first half February at $301.50-302.50/tonne CFR Japan.

 

BENZENE: A deal was heard at $330/tonne FOB (free on board) Korea for any December loading, helping to maintain prices at $325-330/tonne FOB Korea. Bids were also heard at $325/tonne FOB Korea for January lifting and at $324/tonne FOB Korea for second half December lifting.

 

TOLUENE: The market was thinly discussed with prices firming late afternoon to $405-415/tonne FOB Korea with a bid heard at $410/tonne FOB Korea for first half December loading. An offer for January shipment was also heard at $410/tonne FOB Korea.

 

For more pricing intelligence, please visit ICIS pricing. 

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Author: Staff Reporter
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