29 June 2012 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $82.19/bbl, up $4.50; Aug Brent: $95.33/bbl, up $3.97
NYMEX WTI crude futures rose on Friday as European leaders agreed on a deal to cut Spanish and Italian borrowing costs, boosting sentiment on the last trading day of the quarter.
RBOB: Jul: $2.6843, up 7.01 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices increased mid-day because of higher crude futures and as the July prompt-month gasoline futures contract expires at the end of trading. Trading will switch to the August contract as the prompt month on Monday.
NATURAL GAS: Aug: $2.742/MMBtu, up 2 cents
Natural gas futures on the NYMEX were edging up slightly in recovery from Thursday’s settlement loss, the first after a five-day streak of rallies supported by above-normal temperatures in the US. Morning trading on the August contract was wavering between a 4-cent spread.
ETHANE: higher at 29.00 cents/gal
Mont Belvieu ethane prices moved higher after reaching a record low price on Thursday. The only confirmed trade was 29.00 cents/gal, but recent bids have been lower at 28.25 cents/gal. Ethane inventories are at a record high, largely a result of low demand, both of which have caused prices to remain low.
AROMATICS: benzene higher $4.30-4.80/gal
Benzene prices were higher from $4.25-4.55 late on Thursday.
OLEFINS: ethylene bid up at 42.25 cents/lb, RGP flat at 37 cents/lb
US ethylene for July was bid higher compared with deals done on Thursday. Refinery-grade propylene (RGP) for July traded flat compared with deals done earlier this week, but higher than an early bid of 34 cents/lb on Thursday.
For more pricing intelligence please visit www.icispricing.com
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