NOON SNAPSHOT - Americas Markets Summary

14 March 2013 17:00  [Source: ICIS news]

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

CRUDE: Apr WTI: $92.82/bbl, up 30 cents; Apr Brent: $109.60/bbl, up $1.08
NYMEX WTI crude futures traded within a narrow range but received support from another stock market rally in response to released US labour data, showing jobless claims down for the third consecutive week, overshadowing the dollar rising against a basket of currencies. Brent rose sharply on short covering ahead of the April contract expiration at the end of the session.

RBOB: Apr: $3.1330/gal, down 0.93 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to inch lower despite the release encouraging jobs data and an increase in gasoline consumption in Wednesday’s US Energy Information Administration (EIA) report.

NATURAL GAS: Apr: $3.775/MMBtu, up 9.5 cents
NYMEX natural gas futures surged upwards over Thursday morning session, boosted by continued cold fronts across the midwest and east coast, as well as the latest US gas storage report from the EIA, which showed that US inventory levels were down nearly 20% from this time last year.

ETHANE: higher at 27 cents/gal
Ethane spot prices were slightly during morning trading as activity picked up and crude futures increased.

AROMATICS: benzene down at $4.32-4.40/gal
Prompt benzene spot prices were discussed lower early in the day, sources said. The morning range was down from $4.36-4.41/gal FOB late Wednesday.

OLEFINS: ethylene offered higher at 68.5 cents/lb, PGP offered tighter at 63.25 cents/lb
Offers for March ethylene moved higher to 68.5 cents/lb from 66.0 cents/lb the previous day, but no bids or deals were heard. Offers for March polymer-grade propylene (PGP) were heard at 63.25 cents/lb against no bids, compared with deals done on Tuesday at 63.00 and 63.50 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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