NOON SNAPSHOT - Americas Markets Summary

19 May 2008 18:00  [Source: ICIS news]

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

CRUDE: WTI: $126.15, down 14 cents; Brent: $124.42, down 57 cents
Crude prices seesawed after an early rally failed to establish new record highs. A price dip occurred following comments from OPEC saying that the market is well supplied and high oil prices are due to speculation and geopolitical issues.

NATURAL GAS: $11.204/m Btu, up 11.0 cents
Natural gas futures gained on the run up in crude oil prices and further strengthened by supply concerns.

RBOB: $3.2292/gal, up 0.57 cents
Reformulated gasoline blendstock for oxygenated blending (RBOB) futures were trading above Friday’s record high settlement. The increase was said to be on the back of record highs seen in the crude oil market.  

BENZENE:  Activity was thin in the benzene market early in the day. As a result, spot prices held at Friday’s range of $4.13-4.15/gal FOB (free on board) HTC (Houston-Texas City).

ETHYLENE: US spot ethylene for June traded at 57.00 cents/lb, up from a deal done on Friday at 56.125 cents/lb. Ethylene bid/offers for May were at 57.75-61.00 cents/lb on Monday.

PROPYLENE: The US spot propylene market was quiet. Refinery grade propylene (RGP) for May was last heard traded at 63.75 cents/lb on 14 May.

For more pricing intelligence please visit www.icispricing.com

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly