NOON SNAPSHOT - Americas Markets Summary

06 July 2009 18:00  [Source: ICIS news]

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

CRUDE: Aug WTI: $64.42/bbl, down $2.31; Aug Brent: $64.28/bbl, down $2.37
Crude futures plunged to start the week as the market continued to react to gloomy economic news. Despite militant attacks in Nigeria, a key crude oil exporter, oil futures rates weakened as the prospects for a fiscal rebound appeared to be a long time away. WTI sank to $63.40/bbl over the holiday weekend, while Brent dropped to $63.26/bbl.

NATURAL GAS: $3.543/MMBtu, down 7.2 cents
Natural gas futures lost strength with today's downfall in the wider energy complex.

RBOB: $1.7525/gal, down 3.83 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) prices for August delivery dropped from crude oil's losses.

BENZENE: down at $2.80-$2.90/gal
Trading for July benzene barges in the US Gulf began the week in a wider and lower range of $2.80-2.90/gal, compared with $2.90-2.95/gal on the previous Thursday, on the back of softening energy prices.

ETHYLENE: steady at 23.75-25.25 cents/lb
US July ethylene was notionally steady at 23.75-25.25 cents/lb, with offers continuing to be heard above 25.00 cents/lb. The CME August ethylene futures contract was at 23.75 cents/lb at the close of business last Thursday.

PROPYLENE: down at 35.5-36.5 cents/lb
US refinery-grade propylene (RGP) was down at 35.5-36.5 cents/lb following a July spot deal at 36 cents/lb heard late last Thursday.

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

By: Staff Reporter
+44 20 8652 3214

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