EVENING SNAPSHOT - Americas Markets Summary

20 May 2008 23:48  [Source: ICIS news]

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

CRUDE: WTI $128.99/bbl (up 1 cent), BRENT $127.84/bbl (up $2.78)
US July crude futures, which became the front-month contract, bounced around either side of the $128.98/bbl floor settlement in after-hours electronic Globex trading after posting record highs. The June contract went off the board after topping out at a record $129.60/bbl and settled at $129.07/bbl also a record. A weak dollar and tight supplies of diesel fuel in combination with forecasts of higher prices supported the energy complex.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $11.365/m Btu, up 41.1 cents
Natural gas futures prices ended higher with the surge in crude oil despite mild weather and softer cash prices.

RBOB: $3.3044/gal, up 6.78 cents
The NYMEX reformulated gasoline blendstock for oxygenate blending (RBOB) contract settled at its second record high this week, marking the third consecutive session ending with a record close.

BENZENE: May benzene spot levels were talked at $4.11-4.15/gal FOB (free on board) HTC (Houston-Texas City), traders said during the day.

ETHYLENE: An ethylene bid/offer for May was heard at 58.00-59.50 cents/lb. Ethylene for May last traded on 16 May at 57.25 cents/lb.

PROPYLENE: A May bid/offer for refinery grade propylene (RGP) was heard at 64.00-66.25 cents/lb. RGP was last heard traded at 63.75 cents/lb on 14 May.

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