NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: WTI: $115.37, up $2.36; BRENT: $112.92, up $1.77
Crude prices surged in response to the weekly supply statistics from the Energy Information Administration (EIA) showing an across-the-board drawdown in crude, gasoline and distillate inventories. Prices established a high of $115.69/bbl and had received overnight support from an underperforming US dollar.

NATURAL GAS: $8.283/mBtu, down 4.7 cents
NYMEX natural gas futures moved lower, bucking the trend seen in oil and gasoline.

RBOB: $2.9178/gal, up 7.46 cents
Reformulated blendstock for oxygenate blending (RBOB) futures moved higher following a government reported 6.4m bbl increase in domestic gasoline stockpiles for last week.

BENZENE: August benzene spot prices were said to be at $4.12-4.24/gal FOB (free on board) HTC (Houston-Texas City). Meanwhile, September spot levels were said to be at $4.06-4.10/gal FOB HTC. Trade sources said August business was coming to a close this week.

ETHYLENE: Ethylene for August/September was last offered at 46.00 cents/lb on Tuesday. No bids were heard.

PROPYLENE: Refinery grade propylene (RGP) for August was last heard offered at 65.50 cents/lb on Tuesday with no bids.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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