EVENING SNAPSHOT - Americas Markets Summary

06 May 2013 23:00  [Source: ICIS news]

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

CRUDE: Jun WTI: $96.16/bbl, up 55 cents; Jun Brent: $105.46/bbl, up $1.27
NYMEX WTI crude futures extended recent gains, following Friday’s employment numbers and boosted by geopolitical supply concerns following Israel’s air strike on Syria. The rally overshadowed a flat stock market on signs of lingering economic weakness.

RBOB: Jun: $2.8657/gal, up 4.03 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures continued to trade higher throughout the day as support from stronger crude values boosted June RBOB futures.

NATURAL GAS: Jun: $4.011/MMBtu, down 3 cents
The June contract on the NYMEX natural gas futures market closed the first trading session of the week down, hovering just above the $4.00/MMBtu mark at its lowest settlement in 23 sessions on the back of milder weather forecasts and declining power sector demand as nuclear plants come back on line.  

ETHANE: steady at 28.88 cents/gal
Ethane spot prices were steady as trading activity was thin.

AROMATICS: mixed xylene tighter at $4.06-4.15/gal, toluene wider at $4.03-4.15/gal
Prompt mixed xylene (MX) and toluene activity was thin during the day with no fresh trades heard. May MX prices were discussed within a tighter band compared with $4.05-4.15/gal FOB (free on board) the previous session. Meanwhile, toluene prices were discussed at within a slightly wider range compared with $4.05-4.15/gal FOB the previous session.

OLEFINS: ethylene bid higher at 55.25 cents/lb; PGP higher at 58.75-61.50
May ethylene bid levels moved to 55.25 cents/lb on Monday, higher than bid levels seen at 53.50 cents/lb at the close of the previous week, while there no fresh offers. May polymer-grade propylene (PGP) bid/offer levels moved higher to 58.75-61.50 cents/lb, compared with 57.00-60.25 cents/lb the previous week.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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