NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: May WTI: $91.10/bbl, down $2.41; May Brent: $101.98/bbl, down $2.29 NYMEX WTI crude futures sold down sharply in response to released data showing weak retail sales and downbeat consumer sentiment, validating recent forecasts for a  decline in energy demand growth. WTI bottomed out at $90.27/bbl before rebounding.

RBOB: May: $2.7895/gal, down 4.15 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell during morning trading, extending Thursday’s loss and tracking lower crude futures.

NATURAL GAS May: $4.220/MMBtu, up 8.1 cents
The front month on the NYMEX natural gas market started Friday’s session up for the third consecutive day, boosted by the strong short-term demand outlook from the Midwest region and dwindling gas inventories.

ETHANE: lower at 28.75 cents/gal
Ethane spot prices were 0.25 cents/gal lower in a quiet market.

AROMATICS: Benzene down at $4.41-4.48/gal
Prompt April benzene spot prices were discussed lower this morning, sources said. The morning range was down from $4.45-4.49/gal FOB (free on board) the previous day.

OLEFINS: ethylene offered higher at 64 cents/lb, PGP wider at 57-59 cents/lb
April ethylene offers moved to 64.00 cents/lb, higher than a deal done late on Thursday at 60.25 cents/lb, on continued cracker outages. US polymer-grade propylene (PGP) was heard wider at 57.00-59.00 cents/lb, compared with deals done earlier in the week at 58.25 and 58.50 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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