NOON SNAPSHOT - Americas Markets Summary

08 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: $43.78, up $2.97; BRENT: $42.73, up $2.99
Crude prices corrected sharply upwards from near four-year lows in response to a rally in the stock market, a weaker dollar and a reduction in crude supplies by Saudi Arabia. West Texas Intermediate (WTI) topped out at $44.70/bbl before retreating slightly.

NATURAL GAS: $5.515/m Btu, down 22.7 cents
Natural gas prices diverged from the broader energy market trend, losing more than 22 cents from Friday’s close at $5.742/m Btu.

RBOB: $0.9550/gal, up 5.38 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) began the week up from its Friday close at 90.12 cents/gal on the back of a uptick in energy markets.

BENZENE: Benzene was mostly steady after bids/offers fell into the mid-60s to mid-70s cents/gal range late last week. The upper range ticked higher on stronger energy, which pushed offers to 76 cents/gal.

ETHYLENE: The US ethylene market was quiet on Monday. Ethylene for December traded at 15.25 cents/lb on Friday, down from deals done at 16.50-17.00 cents/lb on 2 December.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard on Monday. RGP last traded at 12.25 cents/lb on 2 December.

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

By: Staff Reporter
+44 20 8652 3214

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