NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Jun WTI: $95.68/bbl, down 48 cents; Jun Brent: $105.12/bbl, down 34 cents
NYMEX WTI crude futures drifted lower as the recent rally stalled after factoring in the previous week’s strong jobs report and Israel’s air strike on Syria during the weekend. WTI bottomed out at $94.92/bbl before rebounding.

RBOB: Jun: $2.8441/gal, down 2.16 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures gave back Monday’s gains as it tracked lower crude futures and an expected build in gasoline inventories in Wednesday’s US Energy Information Administration (EIA) report.

NATURAL GAS: June: $3.946/MMBtu, down 6.5 cents
The June contract on the NYMEX natural gas futures market fell further through Tuesday morning trading, edging below the $4.00/MMBtu mark for the first time since early April on mild weather conditions and expectations that the EIA will report a large inventory injection later this week.

ETHANE: lower at 27.875 cents/gal
Ethane spot prices traded slightly lower during morning hours on the weakness in the overall energy complex.

AROMATICS: benzene down at $4.30-4.41/gal
Prompt benzene spot prices were discussed within a lower range early in the day, sources said. The morning range was down from $4.39-4.42/gal FOB (free on board) the previous session.

OLEFINS: ethylene offered higher at 58 cents/lb; PGP tighter at 59-61 cents/lb
May ethylene offer levels moved higher to 58.0 cents/lb on Tuesday compared with 56.5 cents/lb the previous day, while bids were steady at 55.25 cents/lb. US May polymer-grade propylene (PGP) bid/offer levels tightened to 59.00-61.00 cents/lb, compared with 58.75-61.50 cents/lb the previous day.

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By: Staff Reporter
+44 20 8652 3214

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