NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Feb WTI: $93.06/bbl, down 13 cents; Feb Brent: $111.99/bbl, up 59 cents
NYMEX WTI crude futures tracked a dip in the stock market ahead of the release of fourth-quarter corporate earnings, as well as expectations of unimpressive results and uneven economic activity. WTI bottomed out at $92.67/bbl before rebounding.

RBOB: Feb: $2.7907/gal, up 1.33 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher as weakness in the US dollar and a strong upside showing in Brent crude oil offered support. News that the Motiva Port Arthur refinery in Texas delayed the restart of its crude unit also boosted prices.

NATURAL GAS: Feb: $3.236/MMBtu, down 3 cents
NYMEX natural gas futures extended Monday’s losses further by edging downwards again through Tuesday’s morning session as predictions for well-above-average temperatures across high consumption regions continued to leave traders in a pessimistic mood.

ETHANE: lower at 22.00 cents/gal
Ethane spot prices were at an all-time low in the early trading as the market remains over supplied.

AROMATICS: benzene down at $4.85-4.95/gal
Prompt benzene spot prices were discussed within a lower range early in the day, continuing the previous day’s downward trend. The morning range was below $4.87-4.96/gal FOB (free on board) from the previous session.

OLEFINS: ethylene bid down at 61 cents/lb, PGP flat at 69 cents/lb
US ethylene for January was bid down from deals done at 62.25-63.00 cents/lb on Monday, while polymer-grade propylene (PGP) for January traded on the high end of deals done at 68.75-69.00 cents/lb the previous day.

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By: Staff Reporter
+44 20 8652 3214

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