08 March 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Apr WTI: $91.27/bbl, down 29 cents; Apr Brent: $109.98/bbl, down $1.17
NYMEX WTI crude futures were modestly lower as a result of a stronger dollar. A rally in the stock market in response to released data showing strong job gains and the unemployment rate falling to a four-year low kept the losses in check. Higher gasoline (RBOB) futures also provided underlying support.
RBOB: Apr: $3.1645/gal, up 4.12 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded higher as the Department of Labor said the US economy added 236,000 jobs in February and the nation’s jobless rate dropped to 7.7% in February from 7.9% in January.
NATURAL GAS: Apr: $3.622/MMBtu, up 4.0 cents
NYMEX natural gas futures climbed for a second consecutive session despite the milder near-term weather outlook as markets continued to react to this week’s gas storage report from the Energy Information Administration (EIA).
ETHANE: stable at 27.00 cents/gal
Ethane prices remained unchanged from Thursday.
AROMATICS: benzene wider at $4.25-4.40/gal
Prompt benzene spot prices early in the day moved to a wider range, as bids came down. The morning range was wider from $4.30-4.40/gal FOB (free on board) the previous session.
OLEFINS: April ethylene offered higher at 63.75 cents/lb, March PGP done lower at 65.00-65.25 cents/lb
Offer levels for April ethylene were heard at 63.75 cents/lb, up from offers earlier in the week at 63.5 cents/lb, while no bids were heard. March polymer-grade propylene (PGP) was done at 65.00 and 65.25 cents/lb, down from a deal done Thursday at 66.00 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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