NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Mar WTI: $96.18/bbl, up 30 cents; Mar Brent: $113.06/bbl, down 22 cents
NYMEX WTI crude futures worked higher despite weakness in the stock market and the weaker euro against the dollar. A rally in the RBOB gasoline futures complex provided underlying support.

RBOB: Feb: $2.9376/gal, up 6.22 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures moved higher on east coast support after Hess said it will exit the refining business and sell its Port Reading refinery in New Jersey as well as its 20 storage terminals in the US and Caribbean.

NATURAL GAS: Feb: $3.316/MMBtu, down 12.8 cents
The front month contract on the NYMEX natural gas futures market began the trading week with a 3.7% drop through Monday morning as overnight weather forecasts shifted warmer for most of the lower 48 states over the next two weeks.

ETHANE: lower at 23.5 cents/gal
Ethane spot prices tumbled for the first time in over a week on a continued supply overhang.

AROMATICS: benzene wider at $4.70-4.82/gal
Prompt benzene spot price discussions moved to a wider range compared with $4.72-4.79/gal at the close of the previous week. Offers started the day stronger before falling on a lack of demand.

OLEFINS: Feb ethylene offer up at 69 cents/lb, PGP flat at 76 cents/lb
US ethylene for February was offered up from January deals done at 66.75-68.25 cents/lb last week with no bids. No polymer-grade propylene (PGP) bid/offers were heard. PGP for February traded on Friday at 76 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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