NOON SNAPSHOT - Americas Markets Summary

05 March 2013 18:00  [Source: ICIS news]

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

CRUDE: Apr WTI: $90.42/bbl, up 30 cents; Apr Brent: $110.85/bbl, up 76 cents
NYMEX WTI crude futures rose in line with other commodities, tracking the stock market hitting record highs in response to released data showing an expansion in the US services sector. Brent rose sharply in response to issues in the pipeline system in the North Sea. WTI topped out at $90.73/bbl before retreating as the euro remained weak on eurozone worries.

RBOB: Apr: $3.1103/gal, up 1.20 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were slightly higher during morning trading, following the movement in crude futures. RBOB was also influenced by the transition from winter to summer gasoline blends.

NATURAL GAS: Apr: $3.550/MMBtu, up 2.1 cents
NYMEX natural gas futures climbed for a second consecutive session, boosted by a positive near term demand outlook based on colder-than-average temperatures across the southeastern US through the next five days, as well as nuclear power plant outages.

ETHANE:  higher at 27 cents/gal
Ethane spot prices were higher on Tuesday as it continued to track crude oil and other energy commodities.

AROMATICS: benzene higher at $4.50-4.65/gal
Prompt benzene spot prices rebounded early in the day. There were no fresh trades heard, but the morning range was up from $4.48-4.55/gal FOB (free on board) the previous session.

OLEFINS: ethylene higher at 62-65 cents/lb, PGP done lower at 69.25 cents/lb
US bid/offer levels for March ethylene moved higher to 62.00-65.00 cents/lb compared with levels the previous day at 60.25-64.00 cents/lb. A deal for March polymer-grade propylene (PGP) was done at 69.25, lower than deals the previous day at 70.00 and 70.25 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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