22 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: $88.48/bbl, up 47 cents; Jun Brent: $100.01/bbl, up 36 cents
NYMEX WTI crude futures extended recent gains despite the absence of market-moving news and a soft stock market. WTI experienced booksquaring ahead of the front-month contract going off the board at the end of the session.
RBOB: May: $2.7700/gal, down 0.24 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded slightly lower after making gains during early morning hours. Lower retail gasoline prices could be a factor that supports near-term demand, which could cause RBOB futures to rebound.
NATURAL GAS: May: $4.295/MMBtu, down 11.3 cents
The front month on the NYMEX natural gas market started the week falling heavily from last Friday’s 21-month high, as weather forecasts for next week and early May shifted warmer, limiting gas demand expectations.
ETHANE: lower at 28.75 cents/gal
Ethane spot prices were lower, following weakness in natural gas.
AROMATICS: benzene flat at $4.46-4.51/gal
Prompt benzene spot prices were unchanged early in the day, sources said. The morning range was flat from $4.46-4.51/gal FOB (free on board) the previous session.
OLEFINS: ethylene wider at 55-62 cents/lb, PGP done higher at 57.5 cents/lb
April ethylene bid/offer levels moved to 55.00-62.00 cents/lb, wider than a deal done the previous Friday at 59.25 cents/lb. US April polymer-grade propylene (PGP) was done twice at 57.5 cents/lb, higher than the previous deal at 56.5 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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