EVENING SNAPSHOT - Asia Markets Summary

03 July 2009 11:00  [Source: ICIS news]

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

CRUDE: Aug WTI $66.41/bbl down 32 cents/bbl Aug BRENT $66.31/bbl down 34 cents/bbl

Crude future fell back on Friday after falling more than $2/bbl the previous day. Crude fell after the release of downbeat unemployment data from the US and Europe. The data revealed that June jobless figures in the US rose to a 26 year high, while European unemployment hit a 10 year high. At 8:30 GMT on Friday, the Dubai Mercantile Exchange (DME) September Oman futures contract settled at $66.95/bbl, down $1.29/bbl on the previous day.

NAPHTHA: Asian naphtha prices closed $12.50/tonne softer Friday. Second half August price indications were pegged at $595.50-596.50/tonne CFR (cost and freight) Japan, first half September at $589.50-590.50/tonne CFR Japan and second half September at $585.50-586.50/tonne CFR Japan.

BENZENE: Trading remained thin in the afternoon with bids for August loading heard at $840-850/tonne FOB (free on board) Korea. A sole offer was heard at $870/tonne FOB Korea.

TOLUENE: Prices were hovering in the $755-770/tonne FOB Korea range with bids for second half July and August loading cargoes heard at $750/tonne and $730-765/tonne FOB Korea. Offers were limited and heard at $770-775/tonne FOB Korea.

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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