NOON SNAPSHOTS - Asia Markets Summary
03 February 2009 04:00 [Source: ICIS news]
SINGAPORE (ICIS news)--Here is Tuesday’s mid-day Asia oil and chemical market summary from ICIS pricing.
CRUDE: March WTI $40.35/bbl up 27 cents March BRENT $44.40/bbl up 58 cents.
Crude futures steadied in Tuesday’s morning trade despite dismal data from the US Energy Information Administration late last week. Production cuts of almost 4m bbl/day by OPEC since September 2008 were seen to be sinking into current crude values.
NAPHTHA: Asian naphtha prices opened softer Tuesday. Second half March price indications were pegged at $440.50-443.50/tonne CFR (cost and freight) Japan,first half April at $430.50-433.50/tonne CFR Japan and second half April at $422.50-425.50/tonne CFR Japan.
BENZENE: Discussions for March cargoes remained scant on Tuesday morning. An offer for any April loading at $405/tonne FOB Korea met a bid at $380/tonne FOB Korea.
TOLUENE: A bid for any March lifting at $540/tonne FOB Korea ensured that prices remained at $540-550/tonne FOB Korea on Tuesday morning. Otherwise, discussions for March and April were limited.
SINGAPORE (ICIS news)--Here is Tuesday’s mid-day Asia oil and chemical market summary from ICIS pricing.
CRUDE: March WTI $40.35/bbl up 27 cents March BRENT $44.40/bbl up 58 cents.
Crude futures steadied in Tuesday’s morning trade despite dismal data from the US Energy Information Administration late last week. Production cuts of almost 4m bbl/day by OPEC since September 2008 were seen to be sinking into current crude values.
NAPHTHA: Asian naphtha prices opened softer Tuesday. Second half March price indications were pegged at $440.50-443.50/tonne CFR (cost and freight) Japan,first half April at $430.50-433.50/tonne CFR Japan and second half April at $422.50-425.50/tonne CFR Japan.
BENZENE: Discussions for March cargoes remained scant on Tuesday morning. An offer for any April loading at $405/tonne FOB Korea met a bid at $380/tonne FOB Korea.
TOLUENE: A bid for any March lifting at $540/tonne FOB Korea ensured that prices remained at $540-550/tonne FOB Korea on Tuesday morning. Otherwise, discussions for March and April were limited.
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