10 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: $86.35/bbl, up 42 cents; Jan Brent: $107.93bbl, up 91 cents
NYMEX WTI crude futures edged higher in response to some upbeat oil demand and import data out of China. The stock market also worked higher, providing support to the energy complex. WTI topped out at $86.78/bbl before the rally was capped.
RBOB: Jan: $2.6232, up 2.58 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices rebounded after losing nearly 13 cents/gal last week as RBOB futures tracked higher crude-oil trading.
NATURAL GAS: Jan: $3.446/MMBtu, down 10.5 cents
The front-month contract on the NYMEX natural gas market extended the falls seen at the end of last week, dropping by a further 2.9% over morning trading to a one-month low as predictions for milder weather continued to weaken near-term demand fundamentals.
ETHANE: lower at 22.75 cents/gal
Ethane spot prices slipped in early trading, decoupling from other energy commodities.
AROMATICS: benzene down at $4.98-5.13/gal
US benzene price discussions were lower to start the week. Prompt December spot prices were down from $5.03-5.15/gal FOB (free on board) on Friday.
OLEFINS: ethylene bid lower at 51.75 cents/lb, RGP steady at 49 cents/lb
US ethylene for December was bid lower at 51.75 cents/lb, compared with a deal done the previous Friday at 52.50 cents/lb. Refinery-grade propylene (RGP) for December was steady at 49 cents/lb with no fresh bids or offers heard in the market.
For more pricing intelligence please visit www.icispricing.com
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