NOON SNAPSHOT - Americas Markets Summary

11 March 2013 17:12  [Source: ICIS news]

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

CRUDE: Apr WTI: $91.32/bbl, down 63 cents; Apr Brent: $109.83/bbl, down $1.02
NYMEX WTI crude futures drifted lower, tracking a sell-off on Brent in response to declining Chinese industrial production. WTI also lacked support from the gasoline (RBOB) complex, which had helped lift prices on Friday.

RBOB: Apr: $3.1652/gal, down 3.83 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded lower after Friday’s surge of more than 8 cents/gal. An increase in ethanol credits has contributed to the higher RBOB trading recently.

NATURAL GAS: Apr: $3.634/MMBtu, up 0.5 cents
NYMEX natural gas futures edged upwards on the back of expectations that gas demand would remain above average for this time of year, thanks to lingering cold weather fronts across the Midwest and ongoing nuclear power outages in the south.

ETHANE:  stable at 27.00 cents/gal
Ethane spot prices were stable in early trading on Monday as activity was thin while many were at an industry event in Miami, Florida.

AROMATICS: benzene wider at $4.29-4.45/gal
Prompt benzene spot prices were discussed within a wider range early in the day on a DDP (duty, delivered paid) basis. The morning range was wider compared with $4.35-4.38/gal FOB (free on board) on Friday.

OLEFINS: ethylene tighter at 63.25 cents/lb, RGP lower at 56.0-62.5 cents/lb
A deal for March ethylene was hear done at 63.25 cents/lb, flat with the previous deal done and tighter than the range of 61.00-64.00 cents/lb seen at the close of the previous week. Bid/offer levels for March refinery-grade propylene (RGP) were heard at 56.0-62.5 cents/lb, lower than the sole deal done the previous week at 63.5 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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