24 April 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $90.80/bbl, up $1.62; Jun Brent: $101.60/bbl, up $1.29
NYMEX WTI crude futures extended recent gains, tracking a rally in the stock market and the weekly supply statistics, which showed a less than expected build in crude stocks.
RBOB: May: $2.7431/gal, up 2.41 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices trended higher during morning trading after the US Energy Information Administration (EIA) report showed a 4.4% gain in gasoline consumption rates and a decline in inventories for the week ended 19 April.
NATURAL GAS May: $4.176/MMBtu, down 6.2 cents
The front month on the NYMEX natural gas market carried the previous two days of losses into Wednesday morning trade, sliding as near-term weather forecasts for warmer than average temperatures and the gradual restart of previously offline nuclear capacity reduced gas demand fundamentals.
ETHANE: higher at 29.25 cents/gal
Ethane spot prices were slightly higher on the strength in the energy complex.
AROMATICS: benzene up at $4.50-4.56/gal
May benzene spot prices were discussed within a higher range early in the day, sources said. The range was up from $4.48-4.52/gal FOB (free on board) the previous session.
OLEFINS: May ethylene bid higher at 56-57 cents/lb, April PGP done higher at 58.25 cents/lb
May ethylene bid levels moved higher to 56.0-57.0 cents/lb from 55.5 cents/lb the previous day, against no offers. April polymer-grade propylene (PGP) was heard done at 58.25 cents/lb, higher than the previous deal at 57.75 cents/lb.
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