NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Apr WTI: $92.35/bbl, down 76 cents; Apr Brent: $112.82/bbl, down $1.62
NYMEX WTI crude futures tracked Brent futures down on concerns that the inconclusive elections in Italy could destabilise the eurozone economic progress and affect energy demand. WTI lagged behind its North Sea counterpart as a rally in the stock market held the losses in check.

RBOB: Mar: $2.9736/gal, down 8.75 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell below the $3/gal mark during morning trading as it continued to track the weakness in crude futures.

NATURAL GAS: Mar: $3.404/MMBtu, down 1 cent
The front month on the NYMEX natural gas market edged below the previous day’s close, as overnight weather forecasts for the next two weeks shifted milder. However, ongoing nuclear power plant outages should limit the extent of near-term sell-offs.

ETHANE: lower at 26.00 cents/gal
Ethane spot prices fell below Monday’s level on done deals at 26.00 cents/gal.

AROMATICS: benzene wider at $4.62-4.70/gal
March benzene prices were discussed within a lower range early in the day, following the trend in Asian and European benzene markets. The morning range was down from $4.66-4.70/gal FOB (free on board) late Monday.

OLEFINS: ethylene done higher at 62.5 cents/lb; RGP bid higher at 67 cents/lb
February ethylene was done at 62.500 cents/lb on Tuesday, higher than a deal the previous day at 62.125 cents/lb, as supply is slightly tighter. US refinery-grade propylene (RGP) was heard bid higher at 67 cents/lb compared with bids at 66 cents/lb the previous day.

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By: Staff Reporter
+44 20 8652 3214

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