NOON SNAPSHOT - Americas Markets Summary

14 December 2012 18:04  [Source: ICIS news]

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

CRUDE: Jan WTI: $86.44/bbl, up by 55 cents; Jan Brent: $109.10/bbl, up by $1.19
NYMEX WTI crude futures rose, but traded within a narrow range, receiving support from reports showing growth in China’s manufacturing sector. The euro shifted higher against the dollar, following the release of data showing tamed US inflation, which should allow the Fed to continue with its economic stimulus.

RBOB: Jan: $2.6491, up by 4.7 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher during the morning hours in an attempt to correct recent market weakness. A positive report on industrial production numbers for November also boosted RBOB futures.

NATURAL GAS: Jan : $3.284/MMBtu, down by 6.3 cents
NYMEX natural gas futures continued to slide through Friday morning trading, taking the January contract below the $3.30/MMBtu level for the first time since mid-September as forecasts for above-average temperatures through December continue to limit near-term demand expectations.

ETHANE: stable at 22.75 cents/gal
Ethane prices were stable from the previous day as activity was thin going into the holiday lull.

AROMATICS: styrene spot prices, up to 73-75 cents/lb
Styrene spot prices moved up from 70.75-71.25 cents/lb. The prompt styrene market saw a deal done at 74 cents/lb on Thursday. The November contract price for styrene settled up by an average of 2 cents/lb at 78.00-82.00 cents/lb.

OLEFINS: Dec ethylene bid higher at 54.00 cents/lb; Dec RGP bid flat at 49.50 cents/lb
US ethylene for December was bid higher compared with the previous day with no offers. Refinery-grade propylene (RGP) for December was last heard bid at 49.50 cents/lb against an offer at 51 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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