SAMPLE : OPEN SPEC NAPHTHA CLOSING REPORT

Deal done;   (At  Brent  Aug 35.38  / Sep 35.34 / Oct 35.16 )

Outright:  

1h Sep:  talked 359-360

Spread:

1h sep/1h oct: at +0.25

1. Outright :

    Thin liquidity in the outright.  More bids seen with lower target.

     No big activity seen while market is hard to read. 

2. time spread:   slightly weaker.

3. Crack value :   higher

        (   1H Aug/Brent Aug*7.5:    $    90.80------------------>$    91.40

            2H Aug/Brent Aug*7.5:    $    92.30------------------>$    92.90  

            1H Sep/Brent Sep*7.5:   $    93.85------------------>$    94.45   )

   and east/west spread :  moved out..

    (  1H Aug/Jul : $ 10.00 ------------>$10.75,        1H Sep/Aug:    $ 14.25 ----------> $15.50    )

                            Chemical products price(USD/MT)

                              Benzene                 Toluen              Stylen Monomer                      PX           

Fob Korea           785-800(up)            580-595(up)              960-970(up)                        710-720