NOON SNAPSHOT - Americas Markets Summary

09 December 2008 18:00  [Source: ICIS news]

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

CRUDE: January WTI: $43.17, down 54 cents; January Brent: $42.55, down 87 cents
Oil markets gave back a portion of Monday’s gains in response to a pullback in the stock market and a report from the Energy Information Administration (EIA) projecting a decline in global demand for two consecutive years. WTI (West Texas Intermediate) bottomed out at $42.44/bbl before rebounding.

NATURAL GAS: $5.58/m Btu, up 1.4 cents
January natural gas figures ticked slightly higher amid varied weather expectations.

RBOB: $0.9535/gal, down 0.83 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) for January returned part of Monday’s gains on the back of a slight decline in energy markets.

BENZENE: US spot barge price discussions were notionally higher in a range of 72-77 cents/gal compared with 69-75 cents/gal a day earlier.

ETHYLENE: No ethylene spot activity was heard. Ethylene for December traded at 15.25 cents/lb and 15.50 cents/lb on Monday.

PROPYLENE: The US refinery-grade propylene (RGP) market remained quiet. RGP last traded at 12.25 cents/lb on Thursday.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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