NOON SNAPSHOT - Americas Markets Summary

29 April 2013 17:37  [Source: ICIS news]

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

CRUDE: June WTI: $94.13/bbl, up $1.13/bbl; Jun Brent: $103.53/bbl, up 37 cents
NYMEX WTI crude futures extended gains from last week, moving up more than $1.00/bbl after early losses. News that US pending home sales rose to their highest level in three years and gains in the stock market provided upward support.

RBOB: May: $2.8226/gal, down 1.23 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded lower during the morning session despite increases in crude futures as market players backed off from last week’s RBOB futures strength.

NATURAL GAS: Jun: $4.362/MMBtu, up 13.9 cents
The June 2013 contract on the NYMEX natural gas market began its first days as front month, rising more than 3% on the back of cooling weather forecasts and data from the US nuclear regulatory commission that showed an increase in the number of offline nuclear power reactors.

ETHANE: higher at 30.00 cents/gal
Ethane spot prices rose to 30.00 cents/gal for the first time since late March, following stronger natural gas futures.

AROMATICS: benzene wider at $4.45-4.54/gal
Prompt benzene spot prices were discussed within a wider range early in the day as offers were up slightly. The morning range was wider compared with $4.45-4.50/gal FOB (free on board) before the weekend.

OLEFINS: ethylene offered lower at 58.875 cents/lb, PGP offered steady at 60 cents/lb
April ethylene offers fell to 58.875 cents/lb from 60.000 cents/lb the previous week, while bids held steady at 55.000 cents/lb. April polymer-grade propylene (PGP) offers were unchanged at 60 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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