NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Mar WTI: $95.93/bbl, down 69 cents; Mar Brent: $116.96/bbl, up 23 cents
NYMEX WTI crude futures drifted downward, tracking a sell-off in the stock market and the dollar rising against the euro. The market continued to factor in Wednesday’s supply statistics from the US Energy Information Administration (EIA) showing a build in crude stocks.

RBOB: Mar: $3.0162/gal, down 2.35 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell as claims for jobless benefits declined by fewer than expected. RBOB also took in the EIA report from Wednesday that showed a build-up in gasoline inventories and a drop in consumption.

NATURAL GAS Mar: $3.336/MMBtu, down 8.2 cents
NYMEX natural gas futures slipped 2.4% through Thursday morning trading, as market participants reacted to the EIA’s latest weekly gas storage report, which showed a lower-than-expected withdrawal from inventories over the week ending 1 February.

ETHANE: lower at 25 cents/gal
Ethane spot prices fell as it continued to track weakness in crude and other energy commodities.

AROMATICS: Benzene tighter at $4.78-4.85/gal
Prompt benzene spot prices were discussed within a tighter range early in the day for February delivery. The morning range narrowed from $4.75-4.85/gal FOB (free on board) the previous session, as bids firmed.

OLEFINS: ethylene wider at 57.0-64.5 cents/lb, RGP bid steady at 70 cents/lb
No deals for February ethylene were heard, but bids fell to 57-59 cents/lb and offers moved to a range of 63.5-64.5, higher than the most recent spot deal of 63.125 cents/lb. February refinery-grade propylene (RGP) was heard bid at 70 cents/lb with no offers.

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By: Staff Reporter
+44 20 8652 3214

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