NOON SNAPSHOT - Americas Market Summary

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

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

CRUDE: Mar WTI: $96.13/bbl, up 30 cents; Mar Brent: $118.92/bbl, up $1.68
NYMEX WTI crude futures rose, tracking a rally in global stock markets in response to a string of upbeat economic indicators. Strong Chinese export data and a rise in oil imports signalled a steady rise in economic activity. Brent continued to outperform its American counterpart as the market remained sensitive to the risk of wider supply disruptions. WTI topped out at $96.57/bbl before retreating,

RBOB: Mar: $3.0608/gal, up 6.09 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices rebounded after falling on Thursday. Higher crude futures gave support.

NATURAL GAS Mar: $3.290/MMBtu, up 0.5 cent
NYMEX natural gas futures edged upward through Friday’s morning session, boosted by improving near-term demand prospects as winter storms sweep through the Midwest and northeast. 

ETHANE: higher at 25 cents/gal
Ethane spot prices traded slightly higher as it continued to track energy commodities.

AROMATICS: benzene wider at $4.75-4.81/gal
Prompt benzene spot prices moved to a slightly wider range early in the day, sources said. Bids were flat, while offers were up by a penny compared with $4.75-4.80/gal FOB (free on board) the previous session.

OLEFINS: ethylene steady at 62.5-63.0, RGP higher at 73.5 cents/lb
February ethylene bids and offers were absent in the market, while bids for March ethylene were heard at 61.0 cents/lb, lower than deals done the previous day at 62.5 cents/lb. February RGP was done at 73.5 cents/lb, higher than a deal on Tuesday at 73.0 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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