NOON SNAPSHOT - Americas Markets Summary

17 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: $95.70/bbl, up 54 cents; Jul Brent: $104.27bbl, up 49 cents
NYMEX WTI crude futures worked higher for the third consecutive session, tracking a rally in the stock market in response to some upbeat economic data. A stronger dollar and concerns regarding overall energy demand capped the rally. WTI topped out at $96.45/bbl before retreating.

RBOB: Jun $2.8978/gal, up 1.56 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to rise as it tracked crude futures and on delayed gasoline shipments in the Midwest market, which caused regional spot gasoline prices to gain nearly 0.50 cent/gal during the week.

NATURAL GAS: Jun: $3.966/MMBtu, up 3.4 cents
The June contract on the NYMEX natural gas futures market edged up through Friday morning trading, regaining some of the ground lost during Thursday's 3% fall as higher temperatures and ongoing nuclear power outages maintain high gas demand from the power sector.

ETHANE:  higher at 28.00 cents/gal
Ethane spot prices rebounded, tracking strength in the energy complex and the possible restart of a few crackers.

AROMATICS: benzene wider at $4.40-4.50/gal
Prompt benzene spot prices were discussed within a wider range early in the day, as bid/offers moved apart. The morning range was wider from $4.44-4.48/gal FOB (free on board) the previous session.

OLEFINS: ethylene wider at 58-62 cents/lb, RGP bid lower at 49.5 cents/lb
US May ethylene bid/offer levels widened to 58-62 cents/lb on Friday, compared with a deal done the previous day at 58 cents/lb. Bids for May refinery-grade propylene (RGP) fell to 49.50 cents/lb from 51.75 cents/lb seen the previous day against no fresh offers.

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By: Staff Reporter
+44 20 8652 3214

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