13 February 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $97.49/bbl, down 2 cents; Mar Brent: $118.58/bbl, down 8 cents
NYMEX WTI crude futures drifted into negative territory in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a slight build in oil inventories. The losses were kept in check by the same data showing a drawdown in distillate and gasoline stocks.
RBOB: Mar: $3.0623/gal, up 1.2 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher midday as the EIA report showed an unexpected drop in gasoline inventories last week.
NATURAL GAS Mar: $3.294/MMBtu, up 6.4 cents
NYMEX natural gas futures bounced back on Wednesday trading following Tuesday’s gradual decline, edging up nearly 2% on the back of colder weather forecasts for the northeast and Great Lakes regions next week.
ETHANE: higher at 25.25 cents/gal
Ethane spot prices were slightly higher despite lower crude futures and mixed energy commodities.
AROMATICS: benzene wider at $4.70-4.82/gal
Prompt benzene spot prices were discussed within a wider range early in the day, sources said. Bid/offer levels moved further apart compared with $4.76-4.79/gal FOB (free on board) the previous afternoon.
OLEFINS: Feb ethylene bid down at 60.25 cents/lb; PGP offer flat at 72.50 cents/lb
February ethylene was bid down from a deal done at 61.75 cents/lb on Tuesday with no offers. Polymer-grade propylene (PGP) for February was offered flat with a deal on Tuesday against a bid at 70.00 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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