EVENING SNAPSHOT - Asia Markets Summary

09 January 2009 10:00  [Source: ICIS news]

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

CRUDE: February WTI $41.94/bbl up 24 cents February BRENT $45.28/bbl up 61 cents

Crude futures traded stable to weak through Friday. Eyes remained on expected weak US jobless data due later on in the day. Meanwhile, commitment by Saudi Arabia to OPEC production curbs limited further losses in crude values.

NAPHTHA: Asian naphtha prices closed firmer Friday. Second half February price indications were pegged at $376.50-377.50/tonne CFR (cost and freight) Japan, first half March at $369.50-370.50/tonne CFR Japan and second half March at $364.50-365.50/tonne CFR Japan.

BENZENE: Prices were largely unchanged at $325-335/tonne FOB (free on board) Korea amid a slowdown in discussions on Friday afternoon. Bids for March loading cargoes surfaced at $320-325/tonne FOB Korea.

TOLUENE: No fresh indications surfaced in the afternoon, with prices notionally assessed unchanged at $470-480/tonne FOB Korea. A deal was heard at $500/tonne FOB Singapore for a 1,400 tonne second half January loading cargo.

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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