NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: May WTI: $93.29/bbl, down $1.35; May Brent: $104.35/bbl, down $1.44
NYMEX WTI crude futures fell sharply in response to various reports lowering forecasts for global demand growth, while Wednesday’s US Energy Information Administration (EIA) supply statistics showed crude inventories at their highest levels since 1990. WTI bottomed out at $93.15/bbl before rebounding.

RBOB: May: $2.8338/gal, down 3.13 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell during morning trading as the market remained influenced by the EIA report, which showed an unexpected increase in gasoline inventories.

NATURAL GAS May: $4.139/MMBtu, up 5.4 cents
The front month on the NYMEX natural gas market rose through Thursday morning trading, boosted by the EIA’s latest weekly gas storage report, which showed a further reduction in US inventories over the week ended 5 April.

ETHANE: stable at 29.00 cents/gal
Ethane spot prices were stable, as a few deals were done at Wednesday’s end of day level.

AROMATICS: benzene down at $4.42-4.48/gal
April benzene spot prices were discussed at $4.42-4.48/gal DDP (duty, delivered paid) early in the day, sources said. The range was down from $4.45-4.49/gal FOB (free on board) the previous session.

OLEFINS: ethylene bid wider at 54.0-56.5 cents/lb, PGP bid higher at 57.25 cents/lb
April ethylene was bid in a wider range at 54.0-56.5 cents/lb, compared with deals done the previous day between 55.00-56.25 cents/lb. US April polymer-grade propylene (PGP) was bid higher at 57.25 cents/lb compared with bid levels the previous day at 55.5 cents/lb.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



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