NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Jan WTI: $88.43/bbl, up 36 cents; Jan Brent: $110.66/bbl, down 10 cents
NYMEX WTI crude futures rose slightly ahead of the weekend, but gains were tempered as concern grew about a stalemate in US budget discussions. Soft economic data contributed to worries about the health of the overall US economy.

RBOB: Dec: $2.7825, down 0.45 cent/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were slightly weaker as the December prompt month contract is set to expire at the end of the day.

NATURAL GAS: Jan: $3.628/MMBtu, down 2 cents
US natural gas futures on the NYMEX were tracking wildly on Friday, following a day of losses on Thursday when the front month lost 4% as a result of an inventory surplus reported in the US Energy Information Administration (EIA) estimate. The intraday spread was as wide as 5 cents by mid-morning trading.

ETHANE: stable at 26.25 cents/gal
Ethane spot prices were stable from Thursday in a quiet market. There was one offer heard at 26.50 cents/gal.

AROMATICS: benzene flat at $4.87-4.96/gal
US benzene spot prices were unchanged early in the morning.

OLEFINS: Nov ethylene bid lower at 49.25 cents/lb, RGP bid flat at 49 cents/lb
US ethylene for November was bid lower against an offer at 51.25 cents/lb. Refinery-grade propylene (RGP) was bid flat. No offers were heard. RGP traded at 49.50 cents/lb on Wednesday.

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By: Staff Reporter
+44 20 8652 3214

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