NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $85.69/bbl, up 60 cents; Dec Brent: $108.21/bbl, up 96 cents
NYMEX WTI crude futures worked higher in response to released data showing consumer confidence rising to its highest level in five years, giving a boost to the stock market. A rally in gasoline futures (RBOB) also provided support.

RBOB: Dec: $2.6716, up 6.43 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices increased during morning trading as it tracked higher crude oil. Gasoline futures also rose as US consumer confidence hit a 5-year high.

NATURAL GAS: Dec: $3.544/MMBtu down 6.4 cents          
The front month on the NYMEX natural gas market fell by just under 2% as milder weather fronts moved into high consumption regions in time for the weekend, limiting expectations of near-term demand. 

ETHANE: lower at 29.00 cents/gal
Ethane prices continued to fall, as weakness in crude oil depressed the market.

AROMATICS: benzene down at $4.85-5.10
Prompt benzene spot prices were discussed lower this morning, as trade sources end the week. The morning range was down from $4.90-5.15/gal FOB (free on board) late on Thursday.

OLEFINS: ethylene offer down at 55.50 cents/lb, RGP flat at 50 cents/lb
US ethylene for November was bid at 52 cents/lb against a 55.50 cent/lb offer. November ethylene traded at 55 cents/lb earlier this week. Refinery-grade propylene (RGP) for November was assessed flat based on a deal earlier in the week.

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By: Staff Reporter
+44 20 8652 3214

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