NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Mar WTI: $96.86/bbl, up 69 cents; Mar Brent: $116.89/bbl, up $1.29
NYMEX WTI crude futures recouped a portion of the losses posted on Monday, tracking a rally in the stock market in response to upbeat economic data from various regions suggesting a gradual rebound in world economies. WTI topped out at $97.07/bbl before retreating.

RBOB: Mar: $3.0432/gal, up 3.17 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures reversed Monday’s losses during morning trading as crude futures continued to influence RBOB.

NATURAL GAS: Mar: $3.349/MMBtu, up 3.4 cents
NYMEX natural gas futures extended their recent rally into a second day, boosted by forecasts of colder than normal temperatures across the Northeast and Great Lakes areas, which are expected to increase immediate-term demand

ETHANE: higher at 26.75 cents/gal
Ethane spot prices continued to increase despite downward movement in the energy complex.

AROMATICS: benzene wider at $4.72-4.79/gal
Prompt benzene spot prices moved to a wider range compared with $4.73-4.78/gal FOB (free on board) the previous afternoon. Activity was thin early in the day, with no fresh trades heard.

OLEFINS: ethylene done at 63.5 cents/lb, RGP steady at 73 cents/lb
US ethylene for February was heard done at 63.500 cents/lb, lower than previous deals done at 65.000-65.125 cents/lb. February refinery-grade propylene (RGP) was done at 73 cents/lb, flat with a trade the previous day.

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By: Staff Reporter
+44 20 8652 3214

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