EVENING SNAPSHOT - Americas Markets Summary

16 July 2009 23:21  [Source: ICIS news]

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

CRUDE: Aug WTI: $62.02/bbl, up 48 cents; Aug Brent: $62.75/bbl, down 34 cents.
Crude prices worked higher during after-market electronic trading on sentiment that the market may be establishing a near-term bottom and some short covering may take place ahead of the weekend. Front-month West Texas Intermediate (WTI) rose to $62.25/bbl and consolidated near that number.

NATURAL GAS: $3.668/MMBtu, up 38.5 cents
Natural gas futures prices skyrocketed during the trading session, pushed up by a moderate inventory build.

RBOB: $1.7135/gal, up 0.54 cent
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices rose on higher crude oil values.

BENZENE: A higher and wider spot benzene range held in the US Gulf at $3.10-3.25/gal FOB (free on board) as stress purchases and talk of US production issues rattled the market.

ETHYLENE: The US spot ethylene market was quiet on Thursday. Ethylene for July traded at 19.750-20.375 cents/lb on Wednesday, up from deals done at 19.750 and 19.875 cents/lb on Tuesday.

PROPYLENE: The US refinery-grade propylene (RGP) market was quiet on Thursday. RGP was offered at 36.50 cents/lb on Wednesday. RGP for July traded at 35.50 and 36.00 cents/lb on Monday.

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

By: Staff Reporter
+44 20 8652 3214

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