NOON SNAPSHOT - Americas Markets Summary

01 December 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: WTI: $49.85, down $4.58; BRENT: $48.59, down $4.90
Crude prices plunged in response to OPEC’s decision to delay a supply cut and a sell-off in the stock market. West Texas Intermediate (WTI) bottomed out at $49.52/bbl before rebounding.

NATURAL GAS: $6.487/MMBtu, down 2.3 cents
Natural gas futures prices inched down in early trading as falling energy complex values pressured numbers down. Cold weather forecasts softened the fall.

RBOB: $1.1206/gal, down 8.9 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices plummeted as crude oil futures prices led the downturn in energy markets.

BENZENE: US Gulf barges bids/offers held a wide and notional range but dropped to 90-102 cents/gal in the morning.

ETHYLENE: No US ethylene deals for December were heard on Monday. Ethylene for December last traded on 26 November at 17.00-17.25 cents/lb.

PROPYLENE: The refinery-grade propylene (RGP) market was quiet on Monday. December RGP was offered on 26 November at 13.75 cents/lb. RGP last traded 21 November at 14.50 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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