NOON SNAPSHOT - Americas Markets Summary

14 February 2013 18:14  [Source: ICIS news]

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

CRUDE: Mar WTI: $97.56/bbl, up 55 cents; Apr Brent: $118.07/bbl, up 19 cents
NYMEX WTI crude futures recovered Wednesday’s losses tracking a rally in gasoline (RBOB) futures.

RBOB: Mar: $3.0910/gal, up 5.56 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures increased as applications for unemployment benefits fell below the 350,000 mark, which means demand for commodities, such as retail gasoline, could increase.           

NATURAL GAS: Mar: $3.170/MMBtu, down 13.6 cents
The front month on the NYMEX natural gas market dropped over 4% through Thursday morning trading, plunging to its lowest level since early January on the back of warming temperature forecasts and the latest EIA gas storage report, which showed a lower than expected extraction from inventories for the week ended 8 February.

ETHANE: lower at 48.875 cents/gal
Ethane spot prices traded slightly lower in a delayed reaction to Wednesday’s lower energy commodity settlements.

AROMATICS: Benzene down at $4.60-4.70/gal
Prompt benzene spot prices moved lower during the day. The morning range was down from $4.72-4.76/gal FOB (free on board) the previous afternoon.

OLEFINS: Feb ethylene bid down at 60 cents/lb; PGP done lower at 64-65 cents/lb
February ethylene bids fell to 60.00 cents/lb from bids seen the previous day at 60.25 cents/lb. February PGP spot deals were heard done at 64.0 and 65.0 cents/lb, lower from the previous deal done on Tuesday at 72.5 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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