NOON SNAPSHOT - Americas’ Market Summary

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

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

CRUDE: Dec WTI: $85.77/bbl, down 28 cents; Dec Brent: $108.81/bbl, up 32 cents
NYMEX WTI crude futures resumed their recent downturn after rising early in the session. News of the economy expanding at a faster pace than expected and a rally in the refined products provided early support but the gains were seen as a selling opportunity.

RBOB: Nov: $2.6980, up 2.16 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher mid-day as Hurricane Sandy and its potential to disrupt east coast refinery operations leant support to gasoline futures.

NATURAL GAS: Nov: $3.356/MMBtu, down 7.8 cents
Natural gas futures on the NYMEX were sliding by mid-day, after the release of the weekly US inventory stock report that showed nearly 92% of capacity in gas stocks.

ETHANE: higher at 32.75 cents/gal
Ethane spot prices were slightly higher on confirmed deals, as other energy commodities were mixed in early trading.

AROMATICS: benzene wider at $4.85-5.15/gal
Prompt benzene spot prices moved to within a wider range early in the day, as bids came down. The morning range was wider compared with $5.05-5.15/gal FOB (free on board) on Thursday afternoon.

OLEFINS: ethylene bid lower at 56 cents/lb; RGP bid down at 46 cents/lb
October ethylene was bid lower compared with deals on Thursday, while refinery-grade propylene (RGP) for November was bid lower compared with an October deal the previous day.

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By: Staff Reporter
+44 20 8652 3214

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