NOON SNAPSHOT - Americas Markets Summary

05 November 2009 18:01  [Source: ICIS news]

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

CRUDE: Dec WTI: $79.85/bbl, down 55 cents; Dec Brent: $78.32/bbl, down 57 cents
Crude prices were mixed, capping an early rally and turning negative in spite of gains in the stock market. Adequate inventories of heating oil ahead of winter overshadowed Wednesday’s Energy Information Administration (EIA) statistics, showing a substantial drawdown in crude stocks. West Texas Intermediate (WTI) bottomed out at $79.58/bbl before rebounding.

NATURAL GAS: $4.767/MMBtu, up 4.2 cents
Natural gas futures made up for losses in the previous session despite more government data detailing record-high stocks.

RBOB: $1.9969/gal, down 1.58 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) prices traded in positive territory early in the session, but soon slid in response to crude oil's fall.

BENZENE: US spot benzene for November traded higher at $2.85/gal on 5 November, bringing the current range to $2.78-2.88/gal FOB (free on board) US Gulf. December volumes were seen lower by 2-4 cents/gal, and offers on a DDP (delivered, duty paid) basis held a discount of around 2 cents/lb to FOB terms for both months.

ETHYLENE: The US spot ethylene market was at 32.00-33.25 cents/lb based on bids and offers.

PROPYLENE: US spot refinery-grade propylene (RGP) was unchanged 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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