NOON SNAPSHOT - Americas Markets Summary

01 April 2013 18:00  [Source: ICIS news]

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

CRUDE: May WTI: $96.41/bbl, down 82 cents; May Brent: $110.50/bbl, up 48 cents
NYMEX WTI crude futures fell, tracking weakness in the stock market in response to released data showing a slowdown in the US and Chinese manufacturing sectors.

RBOB: May: $3.1141/gal, up by 0.35 cent/gal
Reformulated blendstock for oxygen blending (RBOB) was up slightly in early trading, even as data showed US manufacturing activity weakened in March.

NATURAL GAS: May: $3.954/MMBtu, down 7 cents
Natural gas futures on the NYMEX were on the decline as weather forecasts were revised to show slightly warmer temperatures for April. Despite the recent curtailment seen in natural gas production in the lower 48 states, prices were expected to remain stable or go lower, as natural gas seasonal demand was expected to decline further.

ETHANE: lower at 29.50 cents/gal
Ethane spot prices were lower, as Dow Chemical and Chevron Phillips Chemical both had cracker outages.

AROMATICS: benzene wider at $4.10-4.40/gal
Activity was thin early in the day for US benzene. April discussions were seen within a wider range from $4.20-4.34/gal FOB (free on board) before the weekend.

OLEFINS: April ethylene flat at 61.25 cents/lb; April PGP flat at 59-63 cents/lb
US ethylene for April was steady at 61.25 cents/lb as no fresh bids or offers were heard in the market. April polymer-grade propylene (PGP) was heard at 59-63 cents/lb, flat with price levels at the end of the previous week.

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By: Staff Reporter
+44 20 8652 3214

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