NOON SNAPSHOT - Americas Markets Summary

24 November 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: January WTI: $54.35, up $4.42; January Brent: $53.52, up $4.33
Crude prices surged on short covering triggered by a rally in the stock market and a weaker dollar.

NATURAL GAS: $6.712/MMBtu, up 23.2 cents
Natural gas futures prices were boosted by the rising values in the energy markets.

RBOB: $1.1600/gal, up 9.57 cents
US gasoline futures prices rallied around the gains in crude oil.

BENZENE: US benzene was heard in a higher, wider range as many participants left the market for the holiday-shortened week. Gains in the energy complex drove notional spot barge prices to $1.00-1.15/gal FOB (free on board) USG (US Gulf), compared with $0.98-1.08/gal on Friday.

ETHYLENE: US ethylene for December was offered at 19 cents/lb with no bids. December ethylene traded on Friday at 18.25 and 18.75 cents/lb.

PROPYLENE: The refinery-grade propylene (RGP) market was steady. RGP for December traded on Friday at 14.50 cents/lb, unchanged from Thursday.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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