NOON SNAPSHOT - Americas Markets Summary

26 March 2013 17:02  [Source: ICIS news]

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

CRUDE: May WTI: $95.38/bbl, up 57 cents; May Brent: $108.10/bbl, down 7 cents
NYMEX WTI crude futures extended recent gains, tracking a rally in the stock market in response to released data showing strong US home sales. Brent continued to underperform, narrowing further the negative trans-Atlantic arbitrage.

RBOB: Apr: $3.0643/gal, up 0.17 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded slightly higher as it began to track the movement in crude futures. Wednesday’s Energy Information Administration (EIA) gasoline inventory report is expected to show a draw of 1.6m bbl, which helped to boost gasoline futures trading.

NATURAL GAS: Apr: $3.885/MMBtu, up 2 cents
The April contract on the NYMEX natural gas market edged upwards through Tuesday morning trade, boosted by the strong near-term demand outlook as implied by forecasts for colder-than-usual weather over the central and eastern US over the next two weeks.

ETHANE:  higher at 29.50 cents/gal
Ethane spot prices were up on higher bids and offers.

AROMATICS: Benzene flat at $4.38-4.43
US benzene prices were flat this morning because of inactivity. Many trade participants are out of the market because of an industry function.

OLEFINS: ethylene offered at 64.5 cents/lb, PGP at 61.50-62.25 cents/lb
US spot ethylene and propylene prices were unchanged as market players are attending a key industry event.

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By: Staff Reporter
+44 20 8652 3214

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