NOON SNAPSHOT - Americas Markets Summary

08 August 2008 18:00  [Source: ICIS news]

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

CRUDE: WTI: $116.22, down $3.80; BRENT: $114.07, down $3.79
Crude prices plunged on length liquidation ahead of the weekend, in response to the US dollar gaining ground against key currencies and the market switching its focus to weak demand and the poor health of the economy.

NATURAL GAS: $8.346/m Btu, down 22.5 cents
Natural gas futures prices moved down in early Friday on the back of lower overall energy prices and weaker demand.

RBOB: $2.9208/gal, down 8.19 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures were said to be down in early trading as a result of crude, weaker demand and a stronger US dollar.

BENZENE: August benzene spot prices were at $4.22-4.28/gal FOB (free on board) HTC (Houston-Texas City), traders said. The range was down from $4.24-4.32/gal FOB HTC on Thursday afternoon.

ETHYLENE: A September spot deal was heard done late on Thursday at 47 cents/lb. A November-December strip was also agreed at a price based on the cost of ethane.

PROPYLENE: An August polymer grade propylene (PGP) offer was heard at 78 cents/lb. Refinery grade propylene (RGP) traded at 68 cents/lb, following bid/offers heard at 68-71 cents/lb earlier in the morning. RGP previously traded at 69.5 and 71.0 cents/lb on Wednesday.

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

By: Staff Reporter
+44 20 8652 3214

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