NOON SNAPSHOT - Americas Markets Summary

03 March 2011 18:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.

CRUDE: Apr WTI: $100.93/bbl, down $1.30; Apr Brent: $114.42/bbl, down $1.93
NYMEX WTI crude futures fell back after peaking at $102.94/bbl in response to efforts to find an acceptable diplomatic solution to the crisis in Libya. WTI bottomed out at $100.37/bbl before rebounding.

RBOB: Apr: $2.9961/gal, down 3.34 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) declined as peace plans were proposed to put an end to the civilian uprising and pro-government opposition in Libya. Libyan President Gaddafi was reported to have blown up oil hubs in the country, however, which could pare losses.

NATURAL GAS: Apr: $3.777/MMBtu, down 4.1 cents
NYMEX natural gas prices followed the typical Thursday, post-storage report script of erratic moves in both directions. A quick surge after the government’s inventory scorecard was followed by a stark drop. The contract has recovered slightly but was still in negative territory by midday.

ETHANE: down at 68.50 cents/gal
Mont Belvieu ethane prices continued to move lower on reduced demand from the US petrochemical industry, with some flex crackers using more naphtha for feedstock.

AROMATICS: benzene flat at $4.20-4.25/gal
Benzene activity was at a standstill early Thursday. Spot prices were unchanged from the previous day.

OLEFINS: ethylene steady at 52.00-53.75 cents/lb
US March ethylene bids and offers were at 52.00-53.75 cents/lb, compared with a trade at 53.25 cents/lb a day earlier.

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By: Staff Reporter
+44 20 8652 3214

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