29 October 2012 17:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday ?xml:namespace>
CRUDE: Dec WTI: $85.89/bbl, down 39 cents; Dec Brent: $109.81/bbl, up 26 cents
NYMEX WTI crude futures worked lower in electronic trading as New York financial and commodity exchanges were closed. Hurricane Sandy is approaching the US east coast and precautionary measures are being taken. Crude futures continued to respond to concerns regarding global economic growth, but the selling was kept in check by strength in refined products, which firmed up on concerns regarding potential damage to the energy infrastructure in the US northeast.
RBOB: Nov: $2.7475/gal, up 4.84 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures rose in electronic trading as Hurricane Sandy further tightened supplies in the US east coast.
NATURAL GAS: Nov: $3.448/MMBtu, up 4.8 cents
The NYMEX physical trading floor was closed on Monday as Hurricane Sandy bore down along the US east coast and triggered a mandatory evacuation of the low-lying areas of New York City. In electronic trading, US Henry Hub benchmark futures price was pushing up almost a nickel by midday, as the November contract sets to expire at the end of the day at its normal time.
ETHANE: stable at 32.75 cents/gal
Ethane spot prices were stable on Friday as trading activity was very thin.
AROMATICS: benzene wider at $4.85-5.35/gal
US November benzene spot prices early in the day moved to a wider range from $4.95-5.15/gal FOB (free on board) the previous session, as offers were stronger and bids were lower. Trade sources attributed to the increase in offers to hurricane fears, stronger RBOB prices in electronic trading and higher prices overseas.
OLEFINS: ethylene done higher at 56.25 cents/lb; RGP steady at 46 cents/lb
A deal for November ethylene was heard at 56.25 cents/lb, up from a deal on Friday at 56.00 cents/lb. No bids or offers were heard for October material. Spot refinery-grade propylene (RGP) prices were steady, with no bids or offers heard.
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