NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: July WTI: $71.81/bbl, up $1.19; Aug Brent: $71.59/bbl, up $1.35
Crude prices reversed direction and gave back Monday’s losses as the US dollar also lost ground versus key currencies and the stock market opened higher. Support also came from the forecast for the weekly supply statistics, calling for another drawdown in crude stocks. In addition, the  market has been keeping an eye on Iran’s election unrest. West Texas Intermediate (WTI) topped out at $72.77/bbl before retreating. On its first day as spot month, August Brent rose to $72.40/bbl before consolidating off the highs.

NATURAL GAS: $4.173/MMBtu, down 0.9 cent
Natural gas futures prices inched down in early session trading.

RBOB: $2.0942/gal, up 4.12 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices followed crude oil prices up.

BENZENE: June benzene was talked lower at $2.75-2.78/gal DDP (delivered, duty paid) HTC (Houston-Texas City), compared with $2.77-2.80/gal a day earlier. July material was talked at a 1-3 cent discount.

ETHYLENE: US spot ethylene was notionally assessed at 27-28 cents/lb on Tuesday. June ethylene last traded at 27.25 cents/lb on 12 June.

PROPYLENE: US refinery-grade propylene (RGP) was notionally assessed at 33.5-34.5 cents/lb on Tuesday. June RGP last traded at 34.375 cents/lb on 10 June.

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

By: Staff Reporter
+44 20 8652 3214

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