19 February 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $95.80/bbl, down 6 cents; Apr Brent: $116.90/bbl, down 48 cents
NYMEX WTI crude futures drifted lower despite gains in the stock market and the euro firming against the dollar. Sentiment that crude prices have peaked in the near-term and the slight easing of geopolitical tensions capped the price of oil.
RBOB: Mar: $3.1146/gal, down 1.99 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell during morning trading after reaching a contract high on Friday. Prices fell as some run-up on Friday was attributed to aggressive buying ahead of the US Presidents Day holiday on Monday.
NATURAL GAS: Mar: $3.268/MMBtu, up 11.5 cents
The front month on the NYMEX natural gas market surged upward following Mondays trading holiday, rising from a six-week low on the back of expectations of colder than previously forecast temperatures over the central and southern parts of the lower 48 US states through the next two weeks.
ETHANE: higher at 26.00 cents/gal
Ethane spot prices were higher in early trading as the market was active following the US holiday weekend.
AROMATICS: Benzene up at $4.67-4.75/gal
US February benzene spot prices were discussed within a higher range early in the day, sources said. The morning range was up from $4.63-4.68/gal FOB (free on board) the previous session.
OLEFINS: Feb ethylene up at 62 cents/lb; PGP offer up at 67 cents/lb
Ethylene for February traded up from a deal done at 61.75 cents/lb on Thursday. February polymer-grade propylene (PGP) was offered up from a deal done at 66 cents/lb on Friday against a 65 cent/lb bid.
For more pricing intelligence please visit www.icispricing.com
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