NOON SNAPSHOT - Americas Markets Summary

12 November 2012 18:02  [Source: ICIS news]

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

CRUDE: Dec WTI: $85.51/bbl, down 56 cents; Dec Brent: $108.96/bbl, down 44 cents
NYMEX WTI crude futures worked lower as the stock market also drifted lower on concerns regarding the fiscal cliff the US economy is facing. Crude prices had risen in response to some upbeat data from China, but the rally was short-lived.

RBOB: Dec: $2.7042, up 0.50 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices extended the increase seen last week as supply and infrastructure challenges in the northeast after Hurricane Sandy continued.

NATURAL GAS: Dec: $3.514/MMBtu, up 1.1 cent
US natural gas futures on the NYMEX began on a short rally throughout the morning but failed to maintain momentum, as the December ‘12 contract ticked up by a penny by midday. Mixed weather outlooks were expected to keep the Henry Hub benchmark in a state of flux.

ETHANE: lower at 29.125 cents/gal
Ethane spot prices were slightly lower, following overall weakness in crude oil and a long supply situation.

AROMATICS: benzene down at $4.75-4.95/gal
Prompt benzene spot prices were discussed lower early in the day, as imports arrive in the US. The morning range was down from $4.85-5.10/gal FOB (free on board) in the previous session.

OLEFINS: ethylene offer higher at 56 cents/lb, RGP wider at 50-52 cents/lb
US ethylene for November was offered higher at 56 cents/lb, up from the previous week’s range of 55 cents/lb, with no bids heard. US refinery-grade propylene (RGP) for November was heard wider at 50-52 cents/lb, compared with the previous week’s range of 50.000-50.625 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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