NOON SNAPSHOT - Americas Markets Summary

03 May 2013 18:00  [Source: ICIS news]

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

CRUDE: June WTI: $95.79/bbl, up $1.80; June Brent: $104.48/bbl, up $1.63
NYMEX WTI crude futures rose following news of better-than-expected job growth in the US, which could help ease concerns about a slowdown in the economy. The employment data boosted sentiment despite data showing weak manufacturing activity in the US and China.

RBOB: June: $2.8136/gal, up 3.3 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were stronger in early trading on Friday on news that the US added a higher-than-expected 165,000 jobs in April. The unemployment rate fell to 7.5%.

NATURAL GAS: June: $4.051/MMBtu, up 2.6 cents
The June contract on the NYMEX natural gas futures market edged upwards through morning trading, rallying after Thursday’s 7% rout as traders try to keep the contract above the $4.00/MMBtu mark.

ETHANE: lower at 28.88 cents/gal
Ethane spot prices were lower in early trading. Supply and demand fundamentals have been stable this week, with no major cracker outages.

AROMATICS: benzene wider at $4.35-4.45/gal
Prompt benzene spot prices were discussed at a wider range early in the day as offer levels firmed. The morning range was wider, compared with $4.35-4.40/gal FOB (free on board) the previous session, with bids holding steady.

OLEFINS: ethylene higher at 51-58 cents/lb; PGP offered higher at 61.5 cents/lb
May ethylene bid/offer levels moved higher to 51-58 cents/lb on Friday, compared with levels seen at 50-56 cents/lb on Thursday. Offers for May polymer-grade propylene (PGP) moved up to 61.5 cents/lb, compared with offers of 60.0 cents/lb on Thursday.

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By: Staff Reporter
+44 20 8652 3214

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