NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Apr WTI: $92.93/bbl, up 9 cents; Apr Brent: $114.07/bbl, up 54 cents
NYMEX WTI crude futures recouped early losses and moved into positive territory on pre-weekend short covering on sentiment that the recent sell-off had been overdone.

RBOB: Mar: $3.0564/gal, up 1.99 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures reversed recent declines as buying increased after the March prompt contract hit a new low during Thursday’s settlement.

NATURAL GAS: March: $3.252/MMBtu, up 0.6 cents
Natural gas futures on the NYMEX opened trading on gains this morning as outlooks showed colder-than-average temperatures, but the momentum began to slide as the March 2013 futures price was just above flat by midday.

ETHANE: higher at 26.50 cents/gal
Ethane spot prices were higher on stronger bids and offers.

AROMATICS: Benzene up at $4.68-4.75/gal
March benzene spot prices were discussed within a higher range early in the day. There were no fresh trades heard, but spot prices were up from $4.66-4.70/gal FOB (free on board) the previous session.

OLEFINS: Feb ethylene offer up at 63 cents/lb; PGP offer up at 70 cents/lb
February ethylene was offered higher from a March deal done at 62 cents/lb on Thursday against a 60.75 cent/lb bid. Polymer-grade propylene (PGP) for February was offered up from a March deal done at 67 cents/lb on Thursday against a 65 cent/lb bid.

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By: Staff Reporter
+44 20 8652 3214

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