30 October 2012 17:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Dec WTI: $86.01/bbl, up 47 cents; Dec Brent: $109.23/bbl, down 21 cents
NYMEX WTI crude futures drifted higher but in thin volume while factoring in the final impact of Hurricane Sandy on the energy infrastructure in the US northeast. The expected decline in energy demand and usage due to disruptions pressured refined products.
RBOB: Nov: $2.7105/gal, down 4.63 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures gave back nearly all of Monday’s gains during morning electronic trading, as Hurricane Sandy kept demand low in the US east coast.
NATURAL GAS: Dec: $3.700/MMBtu down 10.3 cents
The front month on the NYMEX natural gas market declined by 2.6% over Tuesday morning trading, because of falling demand in the wake of Hurricane Sandy. Trading activity remains confined to electronic markets with the New York Stock Exchange closed for a second consecutive day because of the hurricane.
ETHANE: lower at 32.375 cents/gal
Ethane prices slipped during early trading, following the trend of other energy commodities.
AROMATICS: benzene tighter at $4.80-5.10/gal
Prompt benzene spot prices were discussed at a lower range early in the day. The range was narrower compared with previous morning at $4.95-5.35/gal FOB (free on board), following a trade at $4.95/gal DDP (delivered, duty paid) late on Monday.
OLEFINS: ethylene steady at 56.25 cents/lb; RGP offered higher at 53 cents/lb
November ethylene was steady at 56.25 cents/lb after a deal done the previous day, and no new bids or offers were heard in the market. October or November refinery-grade propylene (RGP) was offered higher at 53 cents/lb, up from a deal done the previous week at 51 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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