NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Mar WTI: $96.43/bbl, down 25 cents; Mar Brent: $112.69/bbl, up 27 cents
NYMEX WTI crude futures drifted lower on profit taking on sentiment that the recent gains had been overdone. Brent rose in response to an upbeat jobs report in the UK.

RBOB: Feb: $2.8361/gal, up 0.62 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded slightly higher midday as it continued to track stronger crude futures. Traders awaited the US Energy Information Administration (EIA) inventory report to be released on Thursday. Analysts predict it to show a build of 1.3m bbl in gasoline inventories.

NATURAL GAS Feb: $3.534/MMBtu, down 2.4 cents
NYMEX natural gas futures slid through Wednesday morning trading as near-term demand expectations continued to fluctuate on changing weather forecasts for the east coast high consumption region.

ETHANE: stable at 26.5 cents/gal
Ethane spot prices were stable.

AROMATICS: benzene down at $4.87-4.93/gal
Prompt benzene spot prices were discussed within a lower range during the day, sources said. The morning range was down from $4.92-4.99/gal FOB (free on board) the previous session.

OLEFINS: ethylene offer up at 69 cents/lb, Feb PGP offer down at 75.50 cents/lb
US ethylene for January was offered up compared with 67.75 cents/lb on Tuesday against a 65.25 cent/lb bid. February polymer-grade propylene (PGP) was offered down from 77.00 cents/lb the previous day with no bids.

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By: Staff Reporter
+44 20 8652 3214

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