NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Nov WTI: $92.72/bbl, up 33 cents; Nov Brent: $114.89/bbl, up 39 cents
NYMEX WTI crude futures extended recent gains on continuing geopolitical worries regarding the turmoil between Turkey and Syria. The rally overshadowed a downbeat economic outlook and corporate profit warnings, which drove the stock market down.

RBOB: Nov: $2.9775, up 1.88 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were higher midday on tight supplies on the east and west coasts. Reports that the crude unit at Chevron’s California refinery will be shut through 2012 raised concern of short supply in the state, which is already seeing record high gasoline prices at the pump.

NATURAL GAS: Nov: $3.463/MMBtu, down 0.4 cents
Nymex Henry hub natural gas futures remained relatively flat through Wednesday morning trading due to uncertain temperature predictions for US high demand regions for the remainder of October.

ETHANE: higher 31.25 cents/gal
Ethane spot prices rose slightly on a reported deal.

AROMATICS: benzene flat at $4.65-4.90/gal
Prompt benzene spot levels were unchanged early in the day. There were no fresh trades heard, and discussions were thin with many trade participants out of the market.

OLEFINS: ethylene tighter at 55.00-57.00 cents/lb; RGP steady at 42-45 cents/lb
October ethylene offer levels fell slightly but matched a deal done the previous day at 57 cents/lb, while bid levels held firm. No deals for October refinery-grade propylene (RGP) were heard, but bid/offer levels held firm.

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By: Staff Reporter
+44 20 8652 3214

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