NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Apr WTI: $93.35/bbl, up 32 cents; May Brent: $109.93bbl, up 97 cents
NYMEX WTI crude futures rose on pre-weekend buying in response to released data showing February industrial production rising more than expected. Crude futures extended the gains from the previous session, which factored in an upbeat jobless report.

RBOB: Apr: $3.1663/gal, up 2.50 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices began to rebound from this week’s declines. Stronger crude values contributed to the higher RBOB prices.

NATURAL GAS: Apr: $3.858/MMBtu, up 4.6 cents
The front month on the NYMEX gas futures market rose for a third consecutive day through Friday morning trading on strong demand indicators stemming from predictions of a prolonged period of below-normal temperatures across much of the country and dwindling gas reserves.

ETHANE: higher at 27.50 cents/gal
Ethane spot prices were higher in early trading on Friday as demand was strong across all natural gas liquids (NGL).

AROMATICS: benzene up at $4.29-4.41/gal
Prompt benzene spot prices were discussed within a higher range early in the day. The morning range was up from $4.27-4.32/gal FOB (free on board) late Thursday.

OLEFINS: ethylene tighter at 65.000-65.875 cents/lb, PGP higher at 63.5-65.5 cents/lb
Offer levels for March ethylene fell to 65.875 cents/lb from 68.500 cents/lb the previous day, while bids moved higher to 65.000 cents/lb from 64.500 cents/lb. March polymer-grade propylene (PGP) bid/offer levels moved higher compared with a deal done yesterday at 63.5 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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