NOON SNAPSHOT - Americas Markets Summary

30 April 2012 18:00  [Source: ICIS news]

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

CRUDE: Jun WTI: $104.27/bbl, down 66 cents; Jun Brent: $119.07/bbl, down 76 cents
NYMEX WTI crude futures moved lower early in the day on the back of weaker economic sentiment. Crude levels were driven down on concerns as more European countries head back into recession.

RBOB: May: $3.1805, down 2.57 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices fell as trading for the May prompt month contract nears expiration. June will begin trading as the prompt month on 1 May. 

NATURAL GAS: Jun: $2.218/MMBtu, up 3.2 cents
The front-month contract for natural gas futures on the NYMEX was pushing up by mid-day, as the Henry Hub benchmark was showing potential signs that the gas price was nearing bottom and could be rebounding.

ETHANE: lower at 49.625-50.00 cents/gal
Mont Belvieu ethane trades moved lower on a slight fall in energy commodities, along with low demand as turnarounds continue at ethane crackers. A fractionator is shutting down for maintenance in Mont Belvieu, which could give ethane prices a boost later this week.

AROMATICS: benzene flat at $4.17-4.22/gal
Benzene activity was thin early in the day, sources said. There were no fresh spot deals, as most trade participants were more focused on where the May benzene contract would settle at.

OLEFINS: ethylene bid down at 63 cents/lb, RGP bid down at 59.00 cents/lb
US ethylene for May was bid lower compared with a deal on Friday at 66 cents/lb. No offers were heard. Refinery-grade propylene (RGP) for May was bid at 59 cents/lb against a 64 cent/lb offer. RGP for April traded last week at 62.50 and 64 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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