NOON SNAPSHOT - Americas Markets Summary

14 March 2011 17:00  [Source: ICIS news]

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

CRUDE: Apr WTI: $100.24/bbl, down 92 cents; Apr Brent: $113.28/bbl, down 56 cents
NYMEX WTI crude futures fell to an intra-day low of $98.47/bbl in response to the catastrophe in Japan and near-term expectations of decline in oil demand. The North African and Middle East turmoil eventually put a floor on the decline and prices rebounded sharply.

RBOB: Apr: $2.9450/gal, down 4.27 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures fell to start the week as the possibility of reduced Japanese refining capacity created sentiment that exports into the region would increase.

NATURAL GAS: Apr: $4.034/MMBtu, up 14.5 cents
The front-month natural gas futures contract jumped back above the $4.00/MMBtu level for the first time since 28 February on expectations that the Japan earthquake would push up demand for US product.

ETHANE: up at 65.25-66.50 cents/gal
Mont Belvieu ethane started the week stronger despite falling values for crude futures.

AROMATICS: benzene up at $4.08-4.12/gal DDP
US Gulf benzene bids and offers were at $4.08-4.12/gal DDP (delivery, duty paid) HTC (Houston-Texas City) for March, up from a deal at $3.95/gal DDP on 10 March. No deals were heard done.

OLEFINS: ethylene steady at 52.500-55.000 cents/lb
US Gulf March ethylene bid/offers were at 52.5-55.0 cents/lb, compared with deals heard at 54.0 cents/lb on 11 March. An RGP bid was heard at 71 cents/lb, up from business done at 70 cents/lb in the past week.

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By: Staff Reporter
+44 20 8652 3214

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