13 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: $95.65/bbl, down 39 cents; Jun Brent: $103.59/bbl, down 32 cents
NYMEX WTI crude futures fell in response to a report showing a drop in oil demand in China but received a boost from released data showing a rise in US retail sales. WTI bottomed out at $94.47/bbl before the dip was viewed as a buying opportunity.
RBOB: June $2.8366/gal, down 2.37 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures extended last week’s declines during Monday morning trading on a softer outside market tone and a drop in crude oil futures.
NATURAL GAS: June: $3.953/MMBtu, up 4.3 cents
The June contract on the NYMEX natural gas futures market began the week edging upward, as traders looked to use an upswing in nuclear power plant outages to reverse the losses of more than 12% incurred over the last seven days of trading.
ETHANE: lower at 28.00 cents/gal
Ethane spot prices fell slightly on a confirmed deal. Supply/demand fundamentals remain stable as no major cracker outages have been reported lately.
AROMATICS: benzene up at $4.43-4.53/gal
May benzene spot prices were discussed higher early in the day, sources said. The morning range was up from $4.40-4.48/gal FOB (free on board) late Friday.
OLEFINS: ethylene bid higher at 58 cents/lb; PGP steady at 59-61 cents/lb
US May ethylene was bid higher on Monday at 58.00 cents/lb compared with levels seen at 57.00-57.75 cents/lb the previous Friday. May polymer-grade propylene (PGP) bid/offer levels were steady at 59-61 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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