NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Jun WTI: $89.07/bbl, down 12 cents; Jun Brent: $100.09/bbl, down 30 cents
NYMEX WTI crude futures fell in response to concerns regarding released weak Chinese manufacturing data. WTI also responded to a forecast for a build in crude stocks.

RBOB: May: $2.7334/gal, down 3.60 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded lower during morning hours as expectations for this week’s US Energy Information Administration (EIA) gasoline inventory report are to show a build of 250,000-500,000 bbl.

NATURAL GAS May: $4.306/MMBtu, up 3.9 cents
The front month on the NYMEX natural gas market rallied through Tuesday morning trading after Monday’s 3.2% decline, as ongoing nuclear power outages and the current colder-than-average spell being experienced across much of the US increased expectations of a below-par addition to inventories in this week's gas storage report. 

ETHANE: stable at 29.00 cents/gal
Ethane continues to trade at 29.00 cents/gal, as natural gas futures were stronger in early trading.

AROMATICS: Benzene up at $4.47-4.53/gal
May benzene spot price discussions were at $4.47-4.53/gal FOB (free on board) early in the day. The range was up from $4.46-4.49/gal FOB for April in the previous session. Most trade participants have shifted to May benzene discussions this week.

OLEFINS: ethylene bid higher at 56 cents/lb, PGP wider at 55.0-59.5 cents/lb
April ethylene bid levels increased to 56 cents/lb from 55 cents/lb the previous day, while offers were steady at 62 cents/lb. US April polymer-grade propylene (PGP) bid/offer levels widened to 55.00-59.50 cents/lb, compared with deals done the previous day at 57.50-57.75 cents/lb.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



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