NOON SNAPSHOT - Asia Markets Summary

08 January 2009 04:15  [Source: ICIS news]

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

CRUDE: February WTI $42.43/bbl down 20 cents February BRENT $45.80/bbl down 6 cents

Crude prices edged lower on Thursday morning in Asia after a marked slump in prices the previous day which was triggered by a larger than expected build in US crude stocks. Traders are now focussed on US jobless claims data due out later in the day.   

NAPHTHA: Asian naphtha prices opened softer Thursday. Second half February price indications were pegged at $339.50-342.50/tonne CFR (cost and freight) Japan, first half March at $333.50-336.50/tonne CFR Japan and second half March at $330.50-333.50/tonne CFR Japan.

BENZENE: Prices were notionally lowered to $320-330/tonne FOB (free on board) Korea in line with the sharp fall in crude values and a dip in March buy-sell indications at $315-338/tonne FOB Korea.

TOLUENE: A softening mood could be seen in the market with an offer heard for any March loading slipping $10/tonne from the start of trades to $490/tonne FOB Korea by mid-day. Buyers remained on the sidelines.

For more pricing intelligence, please visit ICIS pricing.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
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