EVENING SNAPSHOT - Americas Markets Summary

22 July 2010 23:43  [Source: ICIS news]

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

CRUDE: Sep WTI: $79.30bbl, up $2.74; Sep Brent: $77.82/bbl, up $2.45
NYMEX crude futures (WTI) sold down towards $78.97/bbl in after-market electronic trading on sentiment that the floor session rally had been overdone. A strong euro, a rally in Wall Street and a Gulf of Mexico storm combined to trigger an aggressive round of buying across the energy complex.

NATURAL GAS: $4.643/MMBtu, up 13.0 cents
The August natural gas contract settled at a 12-session high, moving up 13 cents on a triple-pronged push from a narrow storage build, a tropical storm in the US Gulf and sharp move up in the entire energy complex.

RBOB: $2.1466/gal, up 7.88 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) rode the upward path in the energy complex set by climbing crude oil prices, equities and a tropical depression heading into the producing area of the US Gulf.

BENZENE: up at $2.69-2.72/gal
Two spot benzene deals were heard in the US Gulf at $2.66/gal and $2.70/gal. Both deals were heard on FOB (free on board) terms but could not be confirmed. The July range moved up to $2.69-2.72/gal from $2.65-2.70/gal bid/offers at midday on surging energy values and the storm in the Gulf. August deals were also heard at $2.70/gal DDP (delivery, duty paid) and $2.74/gal.

ETHYLENE: steady at 31.25-35.00 cents/lb
US July ethylene prices remained in a wide bid/offer range as worries about a tropical storm in the Gulf of Mexico next week caused sellers to hold onto material.

PROPYLENE: steady at 42.00-46.00 cents/lb
US refinery-grade propylene (RGP) prices were unchanged and no new deals were heard.

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

By: Staff Reporter
+44 20 8652 3214

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