NOON SNAPSHOT - Americas Markets Summary

12 January 2009 18:00  [Source: ICIS news]

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

CRUDE: February WTI: $37.98/bbl, down $2.85; February Brent: $42.57/bbl, down $1.85
Crude prices plunged in response to sentiment that energy demand will continue to decline in response to the recession. An agreement between Russia and Ukraine to resume natural gas deliveries eased market concerns. An announcement that Saudi Arabia was planning to trim output below its OPEC’s quota failed to provide support. WTI (West Texas Intermediate) sold down to $37.60/bbl before rebounding.

NATURAL GAS: $5.546/MMBtu, up 3 cents
Natural gas prices drifted up in early trading, following cold weather forecasted for the northern US.

RBOB: $1.0758/gal, down 3.54 cents
Reformulated blendstock for oxygenate blending (RBOB) futures prices dropped alongside receding crude oil prices.

BENZENE: Barges for prompt delivery were talked at 87-95 cents/gal DDP (delivered, duty paid) USG (US Gulf),  roughly equal with the previous Friday’s range.

ETHYLENE: US ethylene bid/offers for January were at 22.50-24.50 cents/lb. No deals were heard. Ethylene for January last traded on 9 January at 23.00 cents/lb.

PROPYLENE: US refinery-grade propylene (RGP) for January was offered at 22 cents/lb with no bids. RGP for February was bid at 16 cents/lb with no offers. RGP for January last traded at 15.00 cents/lb on 5 January.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

< previous article(ICIS Chemical Business podcast November 2, 2009)

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