07 January 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $93.02/bbl, down 7 cents; Feb Brent: $111.04/bbl, down 27 cents
NYMEX WTI crude futures moved in cautious trading within a narrow range and between positive and negative territory in search of near-term direction from a soft stock market. Despite the sentiment that key global economies are showing signs of recovery, worries about weak corporate earnings results during the fourth quarter pressured Wall Street.
RBOB: Feb: $2.7671/gal, up 0.28 cent/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures were slightly up in early trading. However, prices were under pressure from high inventory levels.
NATURAL GAS: Feb: $3.314/MMBtu, up 2.7 cents
NYMEX natural gas futures began the first full business week of 2013 rising through the morning session. Traders looked beyond near-term forecasts for above-average temperatures across much of the country over the next two weeks to focus on a return to colder weather towards the end of the month.
ETHANE: lower at 22.50 cents/gal
Ethane spot prices were lower in early trading as cracker outages thinned demand.
AROMATICS: benzene wider $4.85-5.05/gal
January benzene spot prices moved to with a wider range to start the week. Bids were down compared with $4.97/gal on Friday, while offers were slightly up from $5.03/gal the previous session.
OLEFINS: ethylene bid flat at 60 cents/lb, PGP offer up at 70 cents/lb
US ethylene for January was bid flat compared with Friday with no offers. Meanwhile, polymer-grade propylene (PGP) for January was offered up from a deal at 68.25 cents/lb on Friday against a bid at 68 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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