NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: November WTI: $80.51, up $2.81; November Brent: $76.02, up $1.93
Crude prices rallied from the previous week’s slide in response to the weekend announcement that the US and various European countries were working to support the banking system. The announcement had a positive effect on stock markets and commodities. WTI (West Texas Intermediate) surged to $82.52/bbl before retreating in search of a comfort level.

NATURAL GAS: Natural gas: $6.705/MMBtu, up 17.0 cents
Natural gas prices were boosted on increased buying interest, and followed the rise in crude oil prices.

RBOB: $1.8832/gal, up 7.62 cents
Reformulated blendstock for oxygenate blending (RBOB) gasoline futures prices followed the up trend in the energy complex.

BENZENE: US Gulf spot barges for October were slightly higher at $3.10-3.20/gal FOB (free on board), compared with $3.00-3.15/gal FOB on Friday. DDP (delivered, duty paid) prices were notional at $3.05-3.25/gal for October, with November offered at $3.10/gal.

ETHYLENE: US ethylene for October was offered at 36 cents/lb, down from a deal done at 42 cents/lb on 8 October. An ethylene November-December strip traded at 35 cents/lb on Friday.

PROPYLENE: The refinery-grade propylene (RGP) market remained quiet. RGP for October traded at 41.75 cents/lb on 9 October, down from 50.25 cents/lb on 2 October.

For more pricing intelligence please visit www.icispricing.com

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