NOON SNAPSHOT - Americas Markets Summary

05 November 2012 18:00  [Source: ICIS news]

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

CRUDE: Dec WTI: $85.10/bbl, up 24 cents; Dec Brent: $105.84/bbl, up 16 cents
NYMEX WTI crude futures marked time, bouncing around between positive and negative territory but within a narrow range in search of a near-term direction. Political uncertainties and concerns regarding Hurricane Sandy’s impact on energy demand kept many traders on the sidelines.

RBOB: Dec: $2.5891, up 1.55 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were up during mid-day trading on lingering supply concerns over the closure of east-coast refineries from Hurricane Sandy.

NATURAL GAS: Dec: $3.547/MMBtu, down 0.007 cent
The front-month contract on the NYMEX natural gas market edged lower through Monday trading as traders continued to react to record high inventory levels, power cuts across the northeast following Hurricane Sandy and milder weather outlooks for November.

ETHANE: higher at 30.5 cents/gal
Ethane spot prices were slightly higher, as many market participants were out for an industry event.

AROMATICS: benzene lower at $4.80-5.10/gal
US benzene spot prices dipped slightly at the start of the week, falling to $4.80-5.10/gal for FOB November material, compared with the range of $4.90-5.15/gal from the close of the previous week.

OLEFINS: ethylene bid higher at 54 cents/lb, RGP up at 50 cents/lb
US ethylene for November was bid higher, while December material was offered at 57 cents/lb. Refinery-grade propylene (RGP) for November traded at 50 cents/lb, up from bids at 47 cents/lb on Friday.

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By: Staff Reporter
+44 20 8652 3214

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