NOON SNAPSHOT - Americas Markets Summary

01 February 2013 17:57  [Source: ICIS news]

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

CRUDE: Mar WTI: $97.89/bbl, up $0.40; Mar Brent: $116.84/bbl, up $1.29
NYMEX WTI crude futures rose on improvement in the US jobs market and gains in the US manufacturing sector. Brent crude also rallied on renewed Mideast tensions after a suicide bombing attack on the US embassy in Turkey.

RBOB: Mar: $3.0500/gal, up 1.83 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded higher midday as the March contract began to trade as the prompt month, which brought more buyers into the market.

NATURAL GAS: Mar: $3.323/MMBtu, down 1.6 cents
NYMEX natural gas futures fell slightly through Friday morning trade on weak near-term demand fundamentals as weather outlooks continued to predict above-average temperatures across much of the country for the next fortnight.

ETHANE: flat at 26 cents/gal
Ethane spot prices were stable, decoupling from crude and other energy commodities.

AROMATICS: benzene up at $4.70-4.80/gal
Prompt benzene spot prices rebounded early in the day, sources said. The morning range was up from $4.61-4.70/gal FOB (free on board) the previous session.

OLEFINS: ethylene flat at 64 cents/lb, PGP offer up at 77 cents/lb
US ethylene for February traded on the low end of deals done at 64-65 cents/lb on Thursday. Polymer-grade propylene (PGP) for February was offered up from 75.625 cents/lb the previous day with no bids.

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By: Staff Reporter
+44 20 8652 3214

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