EVENING SNAPSHOT - Asia Markets Summary

08 December 2008 10:00  [Source: ICIS news]

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

CRUDE: January WTI $43.30/bbl up $2.49 January BRENT $42.04/bbl up $2.30

Crude futures rebounded on Monday, rising more than $2/bbl day amid news of further supply cuts from Saudi Arabia and stock market gains in Asia. Prices had slumped to four year lows last Friday in response to substantial losses of jobs in the US and lower forecasts for global energy demand from the International Energy Agency (IEA)

NAPHTHA: Asian naphtha prices closed slightly softer Monday. Second half January price indications were pegged at $260.25-261.25/tonne CFR (cost and freight) Japan, first half February at $258.25-259.25/tonne CFR Japan and second half February at $259.25-260.25/tonne CFR Japan.

BENZENE: Prices were pegged at $280-295/tonne FOB (free on board) Korea on Monday. Offers for January loading cargoes were heard at $295-310/tonne FOB Korea, with no bids surfacing.

TOLUENE: Prices remained at $400-410/tonne FOB Korea reflecting buy indications heard for January loading at $395-400/tonne FOB Korea.

For more pricing intelligence, please visit ICIS pricing.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
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