NOON SNAPSHOT - Americas Markets Summary

10 June 2009 18:00  [Source: ICIS news]

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

CRUDE: July WTI: $71.36/bbl, up $1.35; July Brent: $70.80/bbl, up $1.18
Crude prices rose sharply in response to the weekly supply statistics from the Energy Information Administration (EIA), which showed a much greater than forecast drawdown in crude stocks. Prices also received support from an unexpected drawdown in refined products inventories. West Texas Intermediate (WTI) surged to $71.79/bbl, a fresh seven-month high, before retreating slightly once the statistics were factored in. A recovery of the US dollar in currency markets and a dip in the stock market also kept the gains in check.

NATURAL GAS: $3.704/MMBtu, down 2.7 cents
Natural gas futures prices drifted lower in early session trading on mild weather forecasts.

RBOB: $1.9974/gal, up 3.07 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices increased following a 1.6m bbl decline in total domestic gasoline stockpiles.

BENZENE: US barges for June were talked at $2.80-2.85/gal DDP (delivered, duty paid) HTC (Houston-Texas City), up slightly from the previous morning at $2.77-2.80/gal same terms.

ETHYLENE: Ethylene for July was heard traded at 25.50 cents/lb on Wednesday, up from 24.75 cents/lb on Friday.

PROPYLENE: Refinery-grade propylene (RGP) bid/offers were at 33.00-37.00 cents/lb on Wednesday. RGP for June last traded on Friday at 34.50 cents/lb.

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)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly