06 May 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $95.97/bbl, up 36 cents; Jun Brent: $105.27/bbl, up $1.08
NYMEX WTI crude futures extended recent gains, boosted by geopolitical concerns following Israel’s air strike on Syria, overshadowing signs of declining energy demand and lingering economic weakness. WTI topped out at $97.17/bbl before retreating, but the overall market’s bias remained to the upside.
RBOB: Jun: $2.8501/gal, up 2.47 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during morning hours, registering a new June contract high in the process. RBOB support came from higher crude values.
NATURAL GAS: June: $4.026/MMBtu, down 1.5 cents
The June contract on the NYMEX natural gas futures market began the week with a slight decline, edging lower on the back of mild weather forecasts for most of the country.
ETHANE: steady at 28.88 cents/gal
Ethane spot prices were stable in early trading as activity was extremely thin.
AROMATICS: benzene wider at $4.37-4.49/gal
Prompt benzene spot prices were discussed within a wider range early in the day to start the week, sources said. The morning range was wider from $4.40-4.44/gal FOB (free on board) the previous session.
OLEFINS: ethylene steady at 53.5-56.5 cents/lb; RGP steady at 50.5-52.0 cents/lb
May ethylene bid/offer levels were steady at 53.5-56.5 cents/lb on Monday, as a major producer confirmed it is postponing a planned turnaround. Bid/offer levels for May refinery-grade propylene (RGP) were unchanged at 50.5-52.0 cents/lb, as a producer experienced a shutdown on the weekend but was heard to be back up.
For more pricing intelligence please visit www.icispricing.com
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