NOON SNAPSHOT - Americas Markets Summary

08 July 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: Aug WTI: $60.72/bbl, down $2.21; Aug Brent: $61.14/bbl, down $2.09
Crude prices were dragged down by a plunge in refined products values, spurred by the weekly supply statistics from the Energy Information Administration (EIA). The statistics showed a much greater than forecast build in distillate and gasoline inventories. Crude inventories fell more than expected, but the decline was outweighed by the products data. West Texas Intermediate (WTI) bottomed out at $60.54/bbl before rebounding slightly.

NATURAL GAS: $3.364/MMBtu, down 6.5 cents
Natural gas futures prices plunged on declining values across the board in the energy complex.

RBOB: $1.6687/gal, down 6.41 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices plunged following a 1.9m bbl build in US domestic gasoline inventories.

BENZENE: July spot benzene talks were lower at $2.80-2.88/gal, compared with $2.86-2.90/gal a day earlier.

ETHYLENE: US ethylene for July was offered at 21.75 and 22.00 cents/lb on Wednesday. Ethylene for July traded at 21.50 and 22.00 cents/lb on Monday.

PROPYLENE: US refinery-grade propylene (RGP) was offered at 36.25 cents/lb on Wednesday. RGP traded on Tuesday at 35.50 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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