NOON SNAPSHOT - Americas Markets Summary

12 May 2008 18:05  [Source: ICIS news]

HOUSTON (ICIS news)--Here is Monday’s mid-day Americas oil and chemical market summary from ICIS pricing.

CRUDE: WTI: $125.41 (down 55 cents) Brent: $124.08 (down $1.32)
Crude prices eased in response to a stronger US dollar and to profit taking from recent peaks. Before the downside correction, June West Texas Intermediate (WTI) established an all-time record of $126.40/bbl.

NATURAL GAS: June $11.527/m Btu (down 10 cents)
Natural gas prices dipped down, trading in reaction to mild spring weather. However, supply concerns still were visible, industry sources said.

RBOB: June $3.2012/gal (down 1.07 cents)
The June benchmark reformulated blendstock for oxygenate blending (RBOB) gasoline contract continued to trade near record level highs early in the day.

BENZENE: May benzene spot levels were said to be at $4.10-4.14/gal FOB (free on board) HTC (Houston-Texas City) early in the day. June benzene spot bid/offers were at $4.12-4.18/gal FOB HTC, according to traders.

ETHYLENE: US spot ethylene for May was offered at 63.00 cents/lb ($1,389/tonne), while a bid for June was heard at 55.00 cents/lb. Ethylene for May was last heard traded at 57.00 cents/lb on 8 May.

PROPYLENE: US spot refinery grade propylene (RGP) bids for May were heard at 63.00 and 63.50 cents/lb, with no offers. RGP for May was last heard traded on 6 May at 64.75 cents/lb.

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