EVENING SNAPSHOT - Americas Markets Summary

19 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: June WTI $127.38/bbl (up 33 cents), July BRENT $125.06/bbl (up 7 cents)
US crude futures rose in after-hours electronic Globex trading, extending the gains posted during a late surge on floor trading, which ended at an all-time record settlement. The front month was sold down to $125.28/bbl before market speculators drove prices back up.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $10.954/m Btu, down 14 cents
Mild weather forecasted for the East coast and US midwest hampered demand, as futures prices fell further.

RBOB: $3.2366/gal, up 1.31 cents
The June benchmark gasoline contract settled at a record, marking the second consecutive high in as many sessions. Market participants attributed the increase to higher crude oil prices, and high demand ahead of the US Memorial Day weekend, which kicks off the US summer driving season

BENZENE: May benzene spot levels were said to be at $4.10-4.13/gal FOB (free on board) HTC (Houston-Texas City). June benzene was said to be higher at $4.15-4.18/gal FOB HTC. No fresh business was heard.

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 57.75-60.00 cents/lb.

PROPYLENE: No US spot propylene deals were heard. Refinery grade propylene (RGP) for May was last heard traded at 63.75 cents/lb on 14 May.

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