NOON SNAPSHOT - Americas Markets Summary
07 July 2009 10:21 [Source: ICIS news]
HOUSTON (ICIS news)--Here is Tuesday’s mid-day Americas oil and chemical market summary from ICIS pricing.
CRUDE: Aug WTI: $62.67/bbl, down $1.38; Aug Brent: $62.91/bbl, down $1.14
Crude prices extended Monday’s losses in response to a sell-off in the stock market and the initial forecast of another build in gasoline inventories. A lack of confidence in the economy’s ability to rebound pressured the equities and gasoline demand during the long 4 July weekend was expected to be tepid. WTI bottomed out at $62.46/bbl before rebounding slightly.
NATURAL GAS: $3.471/MMBtu, down 1.6 cents
Natural gas futures prices inched down on weaker energy rates across the board.
RBOB: $1.7167/gal, down 2.37 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices dropped on weaker crude oil futures.
BENZENE: up at $2.86-2.90/gal
Benzene bids moved higher to start the day, hitting $2.86/gal against offers at $2.90/gal, compared with the previous day’s range of $2.82-2.90/gal for July. August barges were bid lower by 4 cents and offered lower by 1 cent.
ETHYLENE: down at 22.00-22.75 cents/lb
US ethylene for July was assessed at 22.00-22.75 cents/lb on Tuesday. Ethylene for July traded at 21.50 and 22.00 cents/lb on Monday.
PROPYLENE: steady at 36.00-37.00 cents/lb
US refinery-grade propylene (RGP) prices were notionally steady at 36.00-37.00 cents/lb. RGP for July last traded on 2 July at 36.00 cents/lb.
For more pricing intelligence please visit www.icispricing.com.
By: Staff Reporter
+44 20 8652 3214
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