NOON SNAPSHOT - Americas Markets Summary

10 September 2012 18:00  [Source: ICIS news]

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

CRUDE: Oct WTI: $96.24/bbl, down 18 cents; Oct Brent: $114.56/bbl, up 31 cents
NYMEX WTI crude futures eased a few cents on profit taking as financial markets awaited a decision by the US Federal Reserve to stimulate the economy following downbeat data from China and the previous week’s lacklustre jobs report.

RBOB: Oct: $3.0420, up 2.24 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher mid-day as a tighter supply situation stemming from a slow down in European imports as well as recent reduced refinery capacity on the Gulf coast following Hurricane Isaac lifted futures.

NATURAL GAS: OCT: $2.719/MMBtu, up 3.7 cents
The front month for Henry Hub futures on the NYMEX natural gas market began the week with early rises on the back of nuclear outages, though near term weather predictions remain mild and most US Gulf production shut-ins have been re-started.

ETHANE: stable at 32-32.5 cents/gal
Ethane was stable in early trading, with few bids and offers.

AROMATICS: Benzene up at $4.35-4.50/gal
Benzene spot prices were moving higher early in the day to start the week. The morning range saw bid levels up compared with Friday. Some trade sources on Friday said benzene spot levels were at $4.30-4.37/gal FOB (free on board) late Friday, while others saw the price at $4.32-4.50/gal FOB late Friday.

OLEFINS: ethylene bid down at 58 cents/lb
Ethylene for September was bid lower compared with Friday against an offer at 62 cents/lb. September ethylene traded last week at 59.500-61.750 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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