NOON SNAPSHOT - Americas Markets Summary

02 February 2010 18:00  [Source: ICIS news]

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

CRUDE: Mar WTI: $76.87/bbl, up $2.44; Mar Brent: $75.65/bbl, up $2.54
Crude prices surged in response to strong oil demand expectations from China and optimism about the economic recovery. The dollar weakened and the stock market rose, adding support to the energy complex. WTI topped out at $76.97/bbl before retreating slightly.

NATURAL GAS: $5.486/MMBtu, up 5.2 cents
Natural gas futures strengthened with winter weather forecasts.

RBOB: $1.9811/gal, up 4.90 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices rose alongside higher crude oil values.

BENZENE: Spot benzene was quiet with February price ideas at $3.45-3.55/gal FOB (free on board) US Gulf early on Tuesday.

ETHYLENE: US ethylene was bid at 51.50 cents/lb and offered at 56.00 cents/lb on Tuesday. Ethylene traded on Friday at 51.00 cents/lb.

PROPYLENE: US refinery-grade propylene (RGP) was last heard offered at 56.00 cents/lb with no bids. February RGP traded at 55.00 cents/lb on Friday.

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