EVENING SNAPSHOT - Americas Markets Summary

14 March 2011 22:09  [Source: ICIS news]

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

CRUDE: Apr WTI: $101.19/bbl, up 3 cents; Apr Brent: $113.67/bbl, down 17 cents
WTI crude futures experienced a wild ride, whipsawing in response to the catastrophe in Japan and Middle East turmoil. Prices rose sharply after hours, trading towards $101.60/bbl in response to a minor earthquake felt near Tokyo and reports that Libyan government forces had crushed the rebellion in the eastern part of the country and could focus on the west.

RBOB: Apr: $2.9603/gal, down 2.74 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures fell as the US dollar gained strength versus a basket of currencies. The 9.0 magnitude earthquake that hit offshore Japan last week and resulted in a tsunami caused a number of currencies in tsunami-stricken nations to sink.

NATURAL GAS: Apr: $3.914/MMBtu, up 2.5 cents
The front-month natural gas futures contract increased to start the week but fell from midday prices above the $4.00/MMBtu level. The pricing strength came from speculation that spot cargoes to Japan could tighten the market.

ETHANE: up at 64.5-67.0 cents/gal
Mont Belvieu ethane prices strengthened amid stronger demand, recovering from a week of choppy trading, according to traders.

AROMATICS: benzene up at $4.09-4.11/gal DDP
US Gulf benzene traded several times at $4.10/gal DDP (delivery, duty paid) for March delivery, up 15 cents from a deal on 10 March.

OLEFINS: ethylene up at 54.0-55.5 cents/lb
Spot ethylene for March delivery was discussed in a higher range. No deals could be confirmed.

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

By: Staff Reporter
+44 20 8652 3214

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