22 May 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $94.97/bbl, down $1.21; Jul Brent: $103.13/bbl, down 78 cents
NYMEX WTI crude futures fell sharply in response to a large build in gasoline inventories, revealed by the weekly supply statistics from the Energy Information Ad ministration (EIA). A drawdown in crude and distillate inventories as well as a rally in the stock market moderated the sell-off. WTI bottomed out at $94.37/bbl on impulsive selling before rebounding.
RBOB: Jun: $2.8241/gal, down 2.17 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell as the US Energy Information Administration (EIA) report showed a larger than expected build in gasoline inventories.
NATURAL GAS Jun: $4.179/MMBtu, down 1.3 cents
The June contract on the NYMEX natural gas futures market edged lower through Wednesday morning, falling from Tuesday's 20-session high as weather forecasts for the near term turned slightly cooler.
AROMATICS: benzene up at $4.42-4.51/gal
The morning range was up from May prices at $4.40-4.46/gal FOB (free on board) the previous session.
OLEFINS: ethylene done at 56 cents/lb, PGP offered lower at 58.0 cents/lb
US May ethylene was done at 56 cents/lb on Wednesday, compared with deals done the previous day at 55, 56 and 57 cents/lb. May polymer-grade propylene (PGP) was bid lower at 58.0 cents/lb compared with 59.5 cents/lb the previous day.
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