26 November 2012 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $87.58/bbl, down 70 cents; Jan Brent: $110.74/bbl, down 64 cents
NYMEX WTI crude futures worked lower, tracking a weak stock market and the dollar rising against the euro in response to uncertainty about the US budget and Greek debt negotiations. WTI bottomed out at $87.27/bbl before rebounding.
RBOB: Dec: $2.7185, down 2.54 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were weaker during morning trading as reports expected a modest rebound in the amount of off-line US capacity, and that could boost near-term gasoline supply.
NATURAL GAS: Dec: $3.756/MMBtu, down 14.5 cents
A surge of warm temperatures forecast to spread across the US in the short term has caused natural gas futures to plunge, as heating demand expectations are fast dropping. The Henry Hub benchmark on the NYMEX has taken a nosedive since start of trading to a three-day low.
ETHANE: lower at 28.25 cents/gal
Ethane spot prices fell to their lowest level since June, with a deal done at 28.25 cents/gal.
AROMATICS: benzene up at $4.83-5.00/gal
Prompt benzene price discussions moved higher to start off the week, following stronger prices in Asia and Europe. The morning range for November was up from $4.80-4.88/gal FOB (free on board) during the previous session.
OLEFINS: Dec ethylene steady at 50.75 cents/lb, RGP bid flat at 48 cents/lb
US ethylene for December traded flat with previous deals done last week. Refinery-grade propylene (RGP) for December remained bid flat with no offers.
For more pricing intelligence please visit www.icispricing.com
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