EVENING SNAPSHOT - Americas Markets Summary

10 June 2009 23:17  [Source: ICIS news]

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

CRUDE: July WTI: $71.33/bbl, up $1.32; July Brent: $70.80/bbl, up $1.18
Crude prices eased a few cents towards $71.27/bbl during after-market electronic trading after rising sharply during the normal NYMEX floor session. The market responded to the weekly EIA (Energy Information Administration) supply statistics, which revealed a much greater-than-forecast drawdown in crude stocks and an unexpected loss in refined products supplies. With the gasoline complex leading the way up, WTI (West Texas Intermediate) topped out at a 7-month high of $71.79/bbl before retreating.

NATURAL GAS: $3.708/MMBtu, down 2.3 cents
Natural gas futures weakened during the trading session on mild weather forecasts.

RBOB: $2.0153/gal, up 4.86 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices spiked on the back of a 1.6m bbl drop in domestic gasoline inventories.

BENZENE: US spot benzene moved higher after a July deal was done at $2.82/gal. July material was talked at a 5-cent discount to June volumes, which were priced in a range of $2.83-2.87/gal.

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

PROPYLENE: Refinery-grade propylene (RGP) bid/offers were at 33.00-37.00 cents/lb. 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

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