21 September 2012 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Nov WTI: $93.03/bbl, up 61 cents; Nov Brent: $110.95/bbl, up 92 cents
NYMEX WTI crude futures rose on pre-weekend buying after posting substantial losses earlier in the week. On the first day as spot month, November WTI topped out at $93.84/bbl before retreating. The stock market worked higher on economic optimism, providing underlying support to the energy complex, and the euro shifted higher against the dollar.
RBOB: Oct: $2.9193/gal, up 1.53 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices extended Thursday’s gains during morning trading. However, the gains are not expected to continue as gasoline demand is weak and should drop further through the end of the year.
NATURAL GAS: Oct: $2.876/MMBtu, up 7.9 cents
The front month for Henry Hub futures on the NYMEX natural gas market was up 2.8% by midday, extending Thursday's gains on the back of continued nuclear power plant outages.
ETHANE: steady at 31.50 cents/gal
Ethane prices were steady in early trading as other energy commodities saw slight increases.
AROMATICS: benzene up at $4.30-4.50/gal
US benzene spot prices were discussed within a higher range this morning, with offers moving up. The range was wider compared with $4.30-4.37/gal FOB/DDP (free on board/duty, delivered, paid) the previous day.
OLEFINS: ethylene offer down at 60 cents/lb; RGP bid down at 41 cents/lb
US ethylene for September was offered lower compared with Thursday against a bid at 56.50 cents/lb. Refinery-grade propylene (RGP) for September was bid down compared with a deal at 43 cents/lb the previous day.
For more pricing intelligence please visit www.icispricing.com
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