NOON SNAPSHOT - Americas Markets Summary

04 November 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: Dec WTI: $80.23/bbl, up 63 cents; Dec Brent: $78.72/bbl, up 61 cents
Crude prices received support from an unexpected and substantial drawdown in crude stocks revealed by weekly supply statistics from the Energy Information Administration (EIA). But the gains were capped at $81.06/bbl and levels eased as the decline in refined products inventories was not seen as bullish enough since refinery runs dropped sharply on a lack of demand.

NATURAL GAS: $4.791/MMBtu, down 13.1 cents
Record-high storage levels stemmed chances for a two-day gain as values dropped in the face of strengthening energy prices.

RBOB: $2.0066/gal, up 0.62 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) values rode high from the wave of bullish sentiment in the government's weekly storage report.

BENZENE: Spot benzene bids on the US Gulf for November firmed to $2.74/gal on a FOB (free on board) DDP (delivery, duty paid) basis, against offers at $2.82/gal FOB and 2 cents lower for DDP.

ETHYLENE: The US spot ethylene market was at 31.00-32.50 cents/lb based on bids and offers.

PROPYLENE: US spot refinery-grade propylene (RGP) prices were flat at 43.5-44.5 cents/lb amid a lack of offers.

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

By: Staff Reporter
+44 20 8652 3214

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