NOON SNAPSHOT - Americas Markets Summary

19 April 2010 18:00  [Source: ICIS news]

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

CRUDE:  May WTI: $80.92/bbl, down $2.32; Jun Brent: $83.67/bbl, down $2.32
Fraud charges against Goldman Sachs lifted the dollar and pressured stock markets overnight, driving crude prices sharply lower. An oversupply of jet fuel as a result of airline flight interruptions due to volcanic ash pressured the heating oil complex and also helped drag the rest of the energy complex down. WTI bottomed out at $80.53/bbl before rebounding.

NATURAL GAS: $3.939/MMBtu, down 10.0 cents
Natural gas futures prices dropped with mild weather temperatures.

RBOB: $2.2374/gal, down 3.96 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices dropped with weakening crude oil.

BENZENE: Spot benzene in the US Gulf for April/May was bid lower around $3.47/gal FOB (free on board) on Monday, tracking lower energy markets. Offers were mostly steady in the mid-$3.50s/gal as market participants absorbed the recent sell-off in energy. This compares with $3.50-3.56/gal FOB USG (US Gulf) at last week’s close.

ETHYLENE: US ethylene for April was steady after trading at 70.50 cents/lb on Friday, down from 73.00 cents/lb earlier in the week.

PROPYLENE: Refinery-grade propylene (RGP) for April also remained steady after being offered at 46.00 cents/lb on Friday with no bids. RGP traded earlier in the week at 54.25 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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