NOON SNAPSHOT - Americas Markets Summary

04 February 2013 18:00  [Source: ICIS news]

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

CRUDE: Mar WTI: $96.36/bbl, down $1.41, Mar Brent: $115.84/bbl, down 92 cents
NYMEX WTI crude futures fell along with equities on news that Iran has offered to engage in talks with the western nations on their nuclear programme, along with bad jobs data from Spain and restrictions on a pipeline in Texas.

RBOB: Mar: $3.0274/gal, down 2.62 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices began to lower on the second day of March prompt-month contract trading as it tracked weakness in the crude market.

NATURAL GAS: Mar: $3.344/MMBtu, up 4.3 cents
The front month contract on the NYMEX natural gas market began the week rising on the back of improving demand fundamentals as weather forecasts for the second half of February turned colder.

ETHANE: lower at 24 cents/gal
Ethane spot prices were lower in early trading as Dow Chemical reported that it had shut down its cracker in Louisiana.

AROMATICS: benzene flat at $4.73-4.78/gal
There was no change in the US benzene market early in the day. Activity was thin, and spot prices were flat from Friday as a result.

OLEFINS: ethylene wider at 62-65 cents/lb, PGP wider at 75.375-75.750 cents/lb
US ethylene for February did not trade to start the week, but bid/offer levels widened to 62-65 cents/lb on news of a cracker shutdown in Louisiana. Polymer-grade propylene offers widened to 75.375-75.750 cents/lb, while no bids were heard.

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By: Staff Reporter
+44 20 8652 3214

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