NOON SNAPSHOT - Americas Markets Summary

07 December 2012 17:58  [Source: ICIS news]

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

CRUDE: Jan WTI: $86.18, down 8 cents; Jan Brent: $107.02/bbl, down 1 cent
NYMEX WTI crude futures drifted lower but moved within a narrow high/low range, finding early support by an upbeat US employment report but were countered by a drop in consumer sentiment caused in part by the political “fiscal cliff” drama. WTI bottomed out at $85.80/bbl before rebounding.

RBOB: Jan: $2.6029, up 0.60 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were slightly higher during morning trading after a positive report from the US Department of Labor showed the US added 146,000 jobs in November and that jobless rate lowered to 7.7%.

NATURAL GAS: Jan: $3.648 /MMBtu, down 1.8 cents
The front month on the NYMEX natural gas market continued to fall through Friday morning trade as weather forecasts continued to indicate above-to-well-above average temperatures across high consumption regions on the east coast over the short term.

ETHANE: higher at 23.25 cents/gal
Ethane prices rebounded from all-time lows set on Thursday, but prices still remain depressed in an over supplied market.

AROMATICS: benzene wider at $5.03-5.15/gal
Prompt benzene price discussions moved to within a wider range early in the day sources said. The morning range saw bids and offers move further apart from $5.05-5.10/gal FOB (free on board) the previous session

OLEFINS: ethylene bid lower at 52.25 cents/lb, Jan RGP bid up at 49.75 cents/lb
US ethylene for December was bid slightly lower from deals on Thursday with no offers. Refinery-grade propylene (RGP) for January was bid up from a December bid in the previous day. No offers were heard. RGP for December traded at 49 cents/lb this week.

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By: Staff Reporter
+44 20 8652 3214

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