25 January 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $95.88/bbl, down 7 cents; Mar Brent: $113.34/bbl, up 6 cents
NYMEX WTI crude futures drifted lower in choppy action after staging an early rally. Released data showing strong growth in manufacturing in the US and China propped up the stock market, while the euro rose against the dollar. After peaking at $96.56/bbl, the rally was viewed as a pre-weekend selling opportunity.
RBOB: Feb: $2.8700/gal, up 0.71 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to increase as the US Energy Information Administration (EIA) report, which showed a gain in consumption and a drop in inventories, still influenced trading. RBOB futures have settled up each closing day this week.
NATURAL GAS Feb: $3.421/MMBtu, down 2.5 cents
NYMEX natural gas futures were down more than 2 cents by midday Friday, as the milder weather outlook for next 10 days continues to depress near-term demand expectations.
ETHANE: stable at 26.00 cents/gal
Ethane spot prices were stable as morning trading activity was thin.
AROMATICS: benzene down at $4.75-4.85/gal
Prompt benzene spot prices were discussed within a lower range early in the day, sources said. The range was down from $4.88-4.92/gal FOB the previous session. Trade sources said the benzene market was moving down on the back of weaker European prices.
OLEFINS: Feb ethylene offer up at 68 cents/lb, PGP flat at 75.25 cents/lb
US ethylene for February was offered on the high end of January deals done at 66.75-68.25 cents/lb on Thursday against a bid at 67.00 cents/lb. Polymer-grade propylene (PGP) traded flat with a January deal done at 75.25 cents/lb the previous day.
For more pricing intelligence please visit www.icispricing.com
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