NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Apr WTI: $90.03/bbl, down 79 cents; Apr Brent: $110.81/bbl, down 80 cents
NYMEX WTI crude futures fell in response to the weekly supply statistics from the Energy Information Administration (EIA), showing a much-greater-than forecast build in oil inventories and overshadowing a build in refined products. The stock market set another intra-day record high before retreating.

RBOB: Apr: $3.1176/gal, down 3.06 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were down as EIA data showed a drop in gasoline consumption and production rates.

NATURAL GAS: Apr: $3.515 /MMBtu, down 1.4 cents
Natural gas futures were ticking down slightly as the market sought to find direction with a mixed weather forecast. Outlooks showed colder temperatures for the northeast and midwest regions, while warmer weather was expected for the western half of the US.

ETHANE: stable at 27 cents/gal
Ethane prices were stable in early trading as crude and other energy commodities drifted lower.

AROMATICS: benzene wider at $4.48-4.67/gal
Prompt US benzene bid/offer levels moved further apart early in the day. The range was wider compared with $4.59-4.61/gal FOB (free on board) the previous day.

OLEFINS: ethylene done wider at 63.00-63.25 cents/lb, RGP lower at 62-67 cents/lb
March ethylene was done at 63.000, 63.125 and 63.250 cents/lb on Wednesday, wider than two deals done at 63.250 cents/lb on Tuesday. March refinery-grade propylene bid/offer levels were heard at 62-67 cents/lb, lower than a deal done the previous week at 68 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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