NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: WTI: $129.32, up $2.27; Brent: $127.49, up $2.43
Crude prices surged to all-time highs, with WTI (West Texas Intermediate) topping out at $129.60/bbl and Brent at $127.90/bbl. The market’s momentum was driven by market speculators in response to a weaker US dollar and tight diesel fuel supplies.

NATURAL GAS: $11.420/m Btu, up 46.6 cents
Natural gas prices skyrocketed on stronger crude and record heat in the US southwest.

RBOB: $3.2947/gal, up 5.81 cents
The reformulated gasoline blendstock for oxygenate blending (RBOB) contract continued to reach record highs. The increase was in line with the continuous record highs in crude this week.  

BENZENE: May benzene spot levels were talked at $4.11-4.15/gal FOB (free on board) HTC (Houston-Texas City), traders said. The range was up from $4.10-4.13/gal FOB HTC on Monday. In outer-month benzene, June spot levels were said to be at $4.15-4.19/gal FOB HTC.

ETHYLENE: Ethylene for May was assessed at 57.00-59.75 cents/lb, while material for June was at 56.50-59.75 cents/lb. Ethylene for June traded at 57.00 cents/lb on Monday, up from 56.125 cents/lb on Friday.

PROPYLENE: No activity was heard in the US propylene market. 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

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