01 April 2011 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday ?xml:namespace>
CRUDE: May WTI: $107.58/bbl, up 86 cents; May Brent: $118.31/bbl, up 95 cents
NYMEX WTI crude futures extended recent gains on the back of economic optimism following a better than expected US jobs report. The rally to an intra-day high of $107.93/bbl also received a boost from the crisis in the Middle East.
RBOB: May: $3.1439/gal, up 3.63 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices increased on rising crude oil values and a two-year low of 8.8% in the US jobless rate. Gains were pared by a strengthening dollar.
NATURAL GAS: May: $4.340/MMBtu, down 4.9 cents
The front-month natural gas futures price fell to start the day as deliveries to US households fell for a fourth consecutive day and forecasts for higher temperatures throughout the US Midwest weakened demand.
ETHANE: down at 71.0-72.25 cents/gal
Mont Belvieu ethane prices fell as traders looked to switch from March contracts to April contracts.
AROMATICS: benzene up at $4.00-4.15/gal
Prompt benzene spot levels were discussed higher this morning. The range was up from $3.95-4.00/gal FOB (free on board) the previous session, following stronger crude futures.
OLEFINS: ethylene up at 61.75 cents/lb, RGP up at 76.50 cents/lb
US ethylene for April traded up compared with a deal done at 60.75 cents/lb on Thursday. Refinery-grade propylene (RGP) was bid higher at 76.50 cents/lb after trading at 75.50 the previous day. RGP was offered on Friday at 82.00 cents/lb.
For more pricing intelligence please visit www.icispricing.com.
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