NOON SNAPSHOT - Americas Markets Summary

03 January 2013 18:00  [Source: ICIS news]

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

CRUDE: Feb WTI: $93.18/bbl, up 6 cents; Feb Brent: $112.34/bbl, down 13 cents
NYMEX WTI crude futures maintained an upside bias but moved within a narrow range on sentiment that the recent gains had been overdone. A dip in the stock market and a stronger dollar capped the rallies.

RBOB: Feb: $2.8057/gal, up 1.06 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures continued to climb during morning trading, despite an expected build up of 3m bbl in gasoline inventories in the Energy Information Administration (EIA) report to be released on Friday.

NATURAL GAS: Feb: $3.200/MMBtu, down 3.3 cents
The front month on the NYMEX natural gas market fell further through Thursday morning trade as forecasts for milder weather over the next few weeks keep seasonal demand fundamentals low.

ETHANE: lower at 22.25 cents/gal
Ethane spot prices dipped lower as Williams, Eastman Chemical and Dow Chemical all announced cracker restarts.

AROMATICS: benzene offered at $5.22/gal
January benzene discussions were offered higher early this morning, while buyers were quiet. The morning offer was up from Wednesday’s late afternoon range of $5.13-5.18/gal FOB (free on board)

OLEFINS: ethylene flat at 59.50 cents/lb, PGP offer up at 67.75 cents/lb
US ethylene traded flat compared with Wednesday, while polymer-grade propylene (PGP) for January was offered higher from a deal at 66.50 cents/lb the previous day. No bids were heard.

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By: Staff Reporter
+44 20 8652 3214

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