NOON SNAPSHOT - Americas Markets Summary

16 June 2011 18:00  [Source: ICIS news]

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

CRUDE: Jul WTI: $95.10/bbl, up 29 cents; Aug Brent: $113.87/bbl, up 86 cents
NYMEX WTI crude futures chopped around within a narrow range while factoring in the strong losses posted on Wednesday. The dollar was mixed against the euro and the stock market staged a slight rebound.

RBOB: $2.9605/gal, up 3.7 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) were stronger by midday. The increase comes as oil futures fluctuated in early morning trading.

NATURAL GAS: July: $4.468/MMBtu, down 10.9 cents
The prompt price busted through the support level of $4.50/MMBtu after a strong sell off that was triggered by the release of the government’s weekly storage scorecard. The sharp decrease came despite an expected inventory build, which was well under historical norms.

ETHANE: 76.4-77.0 cents/gal
Mont Belvieu ethane prices were steady on Thursday morning, registering only a slight decrease from the previous day.

AROMATICS: Benzene up at $3.71-3.77/gal
June benzene spot prices were higher, sources said. The range was up from $3.69-3.71/gal FOB (free on board) on Wednesday. Meanwhile, July benzene discussions were at $3.72-3.77/gal FOB.

OLEFINS: July ethylene down at 64.50 cents/lb; RGP offer up at 74.00 cents/lb
US ethylene for July traded down from 65.25 cents/lb on Wednesday. The propylene market was quiet. Refinery-grade propylene (RGP) for June was offered at 74 cents/lb, up from a deal at 72 cents/lb on Tuesday.

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By: Staff Reporter
+44 20 8652 3214

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