NOON SNAPSHOT - Americas Markets Summary

05 April 2013 18:03  [Source: ICIS news]

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

CRUDE: May WTI: $92.57/bbl, down 69 cents; May Brent: $104.90/bbl, down $1.44
NYMEX WTI crude futures extended recent losses, tracking a sell-off in the stock market in response to a disappointing US jobs report that fuelled concerns that the economic expansion is losing momentum. WTI bottomed out at $91.91/bbl before rebounding.

RBOB: May: $2.8790/gal, down 1.97 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to decline during morning trading after the release of the disappointing US jobs report.

NATURAL GAS: May: $4.097/MMBtu, up 15 cents
The front month on the NYMEX natural gas market surged upward 3.8% through Friday morning, boosted by yesterday’s bullish Energy Information Administration (EIA) weekly storage update that showed US inventories close to a two-year low following several recent withdrawals. 

ETHANE: higher at 29.13 cents/gal
Ethane spot prices recovered slightly from losses through the week as deals were done at 29.13 cents/gal.

AROMATICS: benzene tighter at $4.32-4.40/gal
Prompt benzene spot prices were discussed within a tighter range early in the day, sources said. The morning range was closer together, compared with $4.30-4.40/gal FOB (free on board) the previous session.

OLEFINS: ethylene bid/offer higher at 57.5-60.5 cents/lb, PGP offered lower at 61.25 cents/lb
Bid/offer levels for April ethylene were slightly higher at 57.5-60.5 cents/lb, compared with 57.0-58.5 cents/lb on Thursday. Polymer-grade propylene (PGP) was offered lower at 61.25 cents/lb, compared with 63 cents/lb the previous day.

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By: Staff Reporter
+44 20 8652 3214

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