NOON SNAPSHOT - Americas Markets Summary

02 May 2013 18:13  [Source: ICIS news]

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

CRUDE: Jun WTI: $92.61/bbl, up $1.58; June Brent: $101.68/bbl, up $1.73
NYMEX WTI crude futures surged in morning trading as US unemployment claims fell to their lowest level since 2008. The European Central Bank also slashed its interest rate to stimulate the eurozone economy.

RBOB: Jun: $2.7293/gal, up 1.00 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices began to rebound from Wednesday’s fall of more than 8 cents/gal. US jobless benefits claims dropped last week to their lowest level in five years, lending some support to RBOB futures.

NATURAL GAS June: $4.082/MMBtu, down 24.4 cents
The front month on the NYMEX natural gas market dropped nearly 6% through Thursday morning trading, as the US Energy Information Administration (EIA) reported a higher-than-expected inventory addition for the week ended 26 April in its latest weekly gas storage report. 

ETHANE: higher at 29.25 cents/gal
Ethane spot prices were slightly higher in early trading, following strength in crude oil and stable supply/demand fundamentals.

AROMATICS: Benzene wider at $4.25-4.42/gal
Prompt benzene spot prices were discussed at $4.25-4.42/gal FOB (free on board) early in the day. The morning range was wider from $4.25-4.35/gal FOB late Wednesday.

OLEFINS: ethylene wider at 50-56 cents/lb; RGP bid steady at 47.5 cents/lb
May ethylene bid/offer levels widened to 50-56 cents/lb on Thursday, compared to a trade the previous day at 54 cents/lb. May refinery-grade propylene (RPG) bid levels were steady at 47.5 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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