NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Apr WTI: $91.21/bbl, up 78 cents; Apr Brent: $110.80/bbl, down 26 cents
NYMEX WTI crude futures worked higher, tracking a rally in the stock market and the dollar shifting lower against the euro in response to released data showing a fall in US unemployment claims. WTI topped out at $91.73/bbl before retreating.

RBOB: Apr: $3.1133/gal, down 1.14 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices declined during morning trading as Wednesday’s US Energy Information Administration (EIA) data, which showed lower gasoline consumption rates, continued to weigh in on the market.

NATURAL GAS: Apr: $3.583/MMBtu, up 11.3 cents
The front month on the NYMEX natural gas market surged 3%, boosted by the EIA's latest weekly gas storage report, which showed a higher than expected withdrawal from inventories for the week ended 1 March. 

AROMATICS: benzene down at $4.40-4.57/gal
Prompt benzene spot prices were discussed lower early in the day, following the drop in European markets. The morning range was down from $4.53-4.58/gal FOB (free on board) the previous session.

OLEFINS: ethylene offered higher at 64.5 cents/lb, PGP offered higher at 70 cents/lb
Offer levels for March ethylene moved up to 64.5 cents/lb from 64.0 cents/lb the previous day but no bids were heard. Offers for March polymer-grade propylene (PGP) moved up to 70.00 cents/lb from 67.75 cents/lb the previous day, but no bids were heard.

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By: Staff Reporter
+44 20 8652 3214

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