04 March 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Apr WTI: $89.86/bbl, down 82 cents/bbl; Apr Brent: $110.20/bbl, down 20 cents/bbl
NYMEX WTI crude futures fell below $90.00/bbl on Monday over growing concerns about the US situation. Supply issues in the North Sea and Libya also supported the sell-off.
RBOB: Apr: $3.0977/gal, down 3.09 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices declined during morning trading as it tracked the weakness in crude futures.
NATURAL GAS: Apr: $3.500/MMBtu, up 4.4 cents
The front month contract on the NYMEX natural gas market began the week heading upward as traders react to forecasts for below- to well-below normal temperatures across the east through the next five days in what could be the last significant cold spell of the winter heating season.
ETHANE: lower at 26.75 cents/gal
Ethane spot prices were slightly lower early on Monday, following crude and other energy commodities.
AROMATICS: benzene offers lower at $4.69/gal FOB
Prompt benzene spot prices were offered lower early in the day. The morning offers were down from the high-end of Friday’s late afternoon range of $4.65-4.80/gal FOB (free on board).
OLEFINS: ethylene tighter at 62.0-63.5 cents/lb, PGP higher at 70.0-70.5 cents/lb
No deals for March ethylene were done, but offer levels fell to 63.0-63.5 cents/lb from 64.0 cents/lb on Friday. Bid levels were steady at 62.00-62.25 cents/lb. March polymer-grade propylene (PGP) was done at 70.0 and 70.5 cents/lb, higher than a trade the previous Thursday at 70.0 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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