NOON SNAPSHOT - Asia Markets Summary

08 December 2008 04:00  [Source: ICIS news]

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

CRUDE: January WTI $42.75/bbl up $1.94 January BRENT $41.86/bbl up $2.12

Crude futures made substantial gains on Monday morning in Asia, rising more than $2/bbl. This follows a price slump last week which saw crude fall to the lowest level since January 20065 amid demand concerns brought on by the ongoing global economic crisis.

NAPHTHA: Asian naphtha prices opened slightly softer Monday. Second half January price indications were pegged at $258.50-259.50/tonne CFR (cost and freight) Japan, first half February at $256.50-257.50/tonne CFR Japan and second half February at $257.50-258.50/tonne CFR Japan.

BENZENE: Discussions were largely thin with buy-sell ideas for January parcels heard at $260-300/tonne FOB (free on board) Korea.  

TOLUENE: Price indications were limited with January values assessed unchanged at around $400/tonne FOB Korea on a notional basis.

For more pricing intelligence, please visit ICIS pricing.

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Author: Staff Reporter
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