NOON SNAPSHOT - Americas Markets Summary

15 February 2013 17:55  [Source: ICIS news]

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

CRUDE: Mar WTI: $95.47/bbl, down $1.84; Apr Brent: $116.76/bbl, down $1.24
NYMEX WTI crude futures fell sharply, along with other commodities, on aggressive pre-weekend length liquidation. A report showing an unexpected decline in US industrial production helped trigger the sell-off. WTI bottomed out at $95.22/bbl before rebounding.

RBOB: Mar: $3.1235/gal, up 0.69 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded at a new contract high during early morning trading. On Thursday gasoline futures rallied 8.12 cents/gal, fuelled by concerns that upcoming refinery maintenance could deplete the recent supply surplus.

NATURAL GAS: Mar: $3.155/MMBtu, down 0.8 cents
NYMEX natural gas futures edged lower following Thursday’s 4.5% decline as weather forecasts continued to depress the outlook for near-term demand.

ETHANE:  lower at 24.875 cents/gal
Ethane spot prices traded slightly lower as it tracked a drop in crude oil futures.

AROMATICS: benzene down at $4.55-4.68/gal
Prompt benzene spot prices moved down early in the day. The morning range was down from $4.75-4.76/gal FOB (free on board) the previous session as a major refiner was said to be selling off product.

OLEFINS: Feb ethylene flat at 61.75 cents/lb; PGP bid flat at 65 cents/lb
Ethylene spot prices were mostly flat based on bid and offers for February, while February PGP was bid on the high end of deals done 64-65 cents/lb on Thursday against a 70 cent/lb offer.

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By: Staff Reporter
+44 20 8652 3214

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