18 January 2013 18:03 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $95.06/bbl, down 43 cents; Mar Brent: $110.84/bbl, down 26 cents
NYMEX WTI crude futures drifted lower on sentiment that Thursday’s surge had been overdone. Prices had risen early on in response to upbeat economic data from China and the monthly International Energy Agency (IEA) report suggesting a tighter oil market.
RBOB: Feb: $2.7643/gal, down 0.41 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures retreated during morning trading after settling up by nearly 5 cents/gal on Thursday. A drop in crude oil futures influenced gasoline futures.
NATURAL GAS: Feb: $3.523/MMBtu, up 2.9 cents
NYMEX natural gas futures continued to edge upwards during Friday morning trading, aided by near-term predictions of below-normal temperatures across the east coast in the next 10 days and longer-term forecasts for a cold February across urban areas in the midwest.
ETHANE: higher at 24.75 cents/gal
Ethane spot prices continued to strengthen on Friday with a deal at 24.75 cents/gal.
AROMATICS: benzene up at $4.92-4.98/gal
Prompt benzene spot prices were discussed higher this morning, approaching the $5.00/gal FOB (free on board) mark. The morning range was up from $4.87-4.95/gal FOB the previous session.
OLEFINS: ethylene offer up at 68 cents/lb, PGP flat at 74 cents/lb
US ethylene for January was offered up from deals done at 65.25-66.75 cents/lb on Thursday, while polymer-grade propylene (PGP) for January traded flat with deals done at 74 cents/lb the previous day.
For more pricing intelligence please visit www.icispricing.com
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