02 May 2012 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $105.00/bbl, down $1.16/bbl; Jun Brent: $117.93/bbl, down $1.73/bbl
NYMEX WTI crude futures moved lower in early morning trading. The morning decline comes as inventory data from the Energy Information Administration (EIA) showed a larger than expected build in domestic crude stockpiles.
RBOB: June: $3.0690, down 2.81 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices dropped as gasoline demand was 5.8% lower for the week ended 27 April, compared with the same time period in 2011, according to the EIA data released on Wednesday.
NATURAL GAS: June: $2.332/MMBtu, down 3.9 cents
The June ’12 prompt futures contract on the NYMEX for natural gas was sliding after two consecutive rallies, as weather forecasts remain mixed. Cooler temperatures are expected for the Midwest, while the southeast US shows stronger patterns for warmth.
ETHANE: lower at 43.750-47.375 cents/gal
Mont Belvieu ethane prices continued to fall on less demand as an increase in turnarounds and outages of US Gulf ethane crackers have suppressed demand for ethane through most of 2012.
AROMATICS: benzene up at $4.21-4.25/gal
Prompt benzene prices early in the day were slightly higher from the previous session, following stronger demand. The morning range was up from $4.20-4.23/gal FOB (free on board) the previous session.
OLEFINS: ethylene bid flat at 60 cents/lb, RGP bid flat at 59.00 cents/lb
US ethylene bids for May remained flat but no offers were heard. Ethylene for July traded at 59.25 cents/lb. Refinery-grade propylene (RGP) for May was bid flat at 59 cents/lb against a 62 cents/lb offer.
For more pricing intelligence please visit www.icispricing.com
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