NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Jun WTI: $94.22/bbl, down $2.17; Jun Brent: $102.42/bbl, down $2.05
NYMEX WTI crude futures fell sharply on pre-weekend selling in response to the dollar rising against a basket of currencies and the stock market drifting down. WTI bottomed out at $93.37/bbl before the dip was viewed as a buying opportunity.

RBOB: Jun: $2.8312/gal, down 5.39 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures declined after a two-day rally as crude futures dropped and a softer outside market tone weakened RBOB futures.

NATURAL GAS: Jun: $3.960/MMBtu, down 2.3 cents
The June contract on the NYMEX natural gas futures market edged lower for the first time in three sessions, as traders reacted to the on-par injection into US inventories reported by the Energy Information Administration and the mild weather outlook for the next two weeks across much of the country.

ETHANE: higher at 28.125 cents/gal
Ethane spot prices were slightly stronger on a higher deals done.

AROMATICS: benzene down at $4.36-4.45/gal
Prompt benzene spot prices early in the day were discussed within a lower range, compared with $4.43-4.46/gal FOB (free on board) from the previous session.

OLEFINS: ethylene done lower at 58.25 cents/lb; RGP bid steady at 50.5 cents/lb
US May ethylene was done lower on Friday at 58.250 cents/lb, compared with the previous deal done at 58.375 cents/lb on late Wednesday. Bids for May refinery-grade propylene (RPG) were steady at 50.5 cents/lb against no fresh offers.

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By: Staff Reporter
+44 20 8652 3214

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