NOON SNAPSHOT - Americas Markets Summary

17 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: $69.91/bbl, down 56 cents; August Brent: $69.83/bbl, down 41 cents
Crude prices slipped, tracking a sell-off in gasoline following the release of the weekly supply statistics from the Energy Information Administration, which showed a much greater-than-forecast build in gasoline inventories. With fears of summer tightness easing, the market ignored the crude oil part of the data showing a substantial drawdown in stocks. WTI (West Texas Intermediate) bottomed out at $69.00/bbl before the dip was viewed as a buying opportunity and a portion of the losses were wiped out.

NATURAL GAS: $4.197/MMBtu, up 6.8 cents
Natural gas futures prices climbed higher in early NYMEX session trading.

RBOB: $2.0154/gal, down 5.57 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices dropped on the back of a larger-than-expected build in domestic gasoline inventories.

BENZENE: No change was noted for spot benzene in the US Gulf, where a day earlier bids/offers were heard at $2.74-2.77/gal DDP (delivered, duty paid) HTC (Houston-Texas City) for prompt loading.

ETHYLENE: US spot ethylene was notionally assessed at 27-28 cents/lb. June ethylene last traded at 27.5 cents/lb on 12 June, while July ethylene last traded at 27.0 cents/lb on Tuesday.

PROPYLENE: US refinery-grade propylene (RGP) was notionally assessed at 34-35 cents/lb. June ethylene last traded at 34.500 cents/lb on Tuesday, up from 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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