NOON SNAPSHOT - Americas Markets Summary

30 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: Aug WTI: $69.22/bbl, down $2.27; Aug Brent: $68.69/bbl, down $2.30
NYMEX light sweet crude futures fell sharply to take the front-month August contract below $70/bbl on the back of a stronger dollar and weaker US product markets ahead of contract expiry. August Brent crude on ICE Futures was also down, trading below $69.00/bbl, having hit a low of $68.51/bbl.

NATURAL GAS: $3.840/MMBtu, down 10.4 cents
August natural gas futures continued their decline on a sliding energy complex and low cooling demand in the US northeast.

RBOB: $1.8899/gal, down 4.59 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures tailed off with the losses in crude oil and weaker equities.

BENZENE: July benzene barges were lower on Tuesday, talked at $2.82-2.89/gal DDP (delivered, duty paid) HTC (Houston-Texas City), equivalent to about $2.86-2.93/gal FOB (free on board) US Gulf terms. That compares with $2.90-2.95/gal FOB a day earlier.

ETHYLENE: US July ethylene was notionally lower at 25 cents/lb based on new offers in the market. The CME July ethylene futures contract was at 25 cents/lb at the close of business on Monday, with no open interest.

PROPYLENE: Refinery-grade propylene (RGP) was steady at 37 cents/lb, but buying interest was said to be weak.

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

By: Staff Reporter
+44 20 8652 3214

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