NOON SNAPSHOT - Americas Markets Summary

03 December 2012 18:00  [Source: ICIS news]

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

CRUDE: Jan WTI: $89.22/bbl, up 31 cents; Jan Brent: $111.09/bbl, down 14 cents
NYMEX WTI crude futures attempted to extend recent gains, but the rally was capped as the stock market worked lower following the release of a report showing US manufacturing contracting in November. WTI topped out at $90.33/bbl before retreating.

RBOB: Jan: $2.7486, up 1.83 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher mid-day as more buyers came into the market on the first day of trading on the January RBOB contract as the prompt month. 

NATURAL GAS: Jan: $3.593/MMBtu, up 3.2 cents
Natural gas futures were recovering slightly this morning after two successive sessions of sell-offs on Thursday and Friday as warm temperature outlooks and high inventory levels stung any traction on the Henry Hub benchmark. US forecasts remain mixed, with moderate warmth expected in the near-term and some chance of cooler temperatures to follow.

ETHANE: lower at 26.00 cents/gal
Ethane prices fell in early trading on Monday, setting another record low.

AROMATICS: benzene flat at $4.87-4.95/gal
US benzene prices discussions were thin early in the day. As a result, spot prices were unchanged from Friday.

OLEFINS: ethylene offered flat at 51.375 cents/lb, RGP flat at 49.00-49.50 cents/lb
US ethylene for December was offered on the high end of previous deals done last week. No bids were heard. No refinery-grade propylene (RGP) bid/offers were heard. RGP was assessed flat based on deals done last week.

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By: Staff Reporter
+44 20 8652 3214

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