EVENING SNAPSHOT - Americas Markets Summary

12 May 2008 23:21  [Source: ICIS news]

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

CRUDE: WTI $124.03/bbl (down 20 cents), BRENT $122.91/bbl (down $2.49)
US crude futures slipped in after-hours electronic Globex trading, extending the losses posted during the normal floor session. The energy complex experienced a downward correction in an attempt to provide some relief to the overbought conditions.  
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $11.301/m Btu (down 23.6 cents)
Natural gas prices for June delivery fell with the losses in the energy complex, sources indicated.

RBOB: $3.1642/gal (down 3.70)
The benchmark June reformulated blendstock for oxygenate blending (RBOB) gasoline contract moved lower, following the trend in crude oil.

BENZENE: May benzene spot levels were unchanged from morning levels of $4.10-4.14/gal FOB (free on board) HTC (Houston-Texas City), traders said. June benzene spot levels were said to be at about $4.15/gal FOB HTC, within the $4.12-4.18/gal FOB HTC band from earlier in the day.

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.

For more pricing intelligence please visit www.icispricing.com.

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