NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Nov WTI: $91.81/bbl, down 26 cents; Nov Brent: $114.50/bbl, down $1.21
NYMEX WTI crude futures drifted lower after the stock market shed early gains in response to a rise in US consumer sentiment. A report by the International Energy Agency (IEA) trimming its oil demand growth outlook and a gradual easing of oil prices also pressured the market.

RBOB: Nov: $2.8726, down 8.30 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices fell during morning trading in response to the International Energy Agency (IEA) downwardly revising its 2012 global oil demand forecast.

NATURAL GAS: Nov: $3.577/MMBtu, down 2.7 cents
The front month on the Nymex natural gas market edged down from Thursday’s record 2012 price through Friday morning trading due to forecasts of milder weather to come for the rest of October.

ETHANE: higher 31.50-31.75 cents/gal
Ethane prices were slightly higher in early trading with a deal done at 31.50 cents/gal and higher bids and offers.

AROMATICS: benzene tighter at $4.65-4.80/gal
There were no fresh trades early in the day, but US October benzene offers came down. As a result, the morning range was tighter compared with $4.65-4.90/gal the previous session.

OLEFINS: ethylene lower at 53.5 cents/lb; RGP higher at 43.5 cents/lb
October ethylene fell after a deal was done at 53.500 cents/lb, compared with deals done on Wednesday at 55.500 and 56.125 cents/lb, tracking weaker demand. Spot prices for refinery-grade propylene (RGP) moved up slightly to 43.5 cents/lb, up from a deal done the previous week at 43.0 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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