13 June 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $95.97/bbl, up 9 cents; Jul Brent: $103.91/bbl, up 42 cents
NYMEX WTI crude futures edged higher, tracking a rally in the stock market in response to released data showing a fall in jobless claims and a rise in retail sales. The dollar extended recent weakness against a basket of currencies while investors gauged the potential scaling back of economic stimulus by central banks.
RBOB: Jul $2.8289/gal, up 1.88 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded slightly higher during morning hours on encouraging jobs and consumer-spending reports. A drop in crude futures kept RBOB from making further gains.
NATURAL GAS Jul $3.818/MMBtu, up 4.1 cents
The July contract on the NYMEX natural gas market edged higher for a second straight session, breaking the $3.80/MMBtu mark for the first time since Monday on the back the Energy Information Administration's latest weekly gas storage report, which showed a storage injection slightly below most analysts' expectations for the week ended 7 June.
ETHANE: lower at 23.25 cents/gal
Ethane spot prices were weaker as a result of oversupply and weak demand.
AROMATICS: benzene flat at $4.26-4.31/gal
Prompt benzene spot prices were flat early in the day, sources said. Activity was thin, with price discussions quiet.
OLEFINS: ethylene bid higher at 53.75 cents/lb, RGP higher at 57-58 cents/lb
US June ethylene bids moved up to 53.75 cents/lb on Thursday compared with a deal the previous day at 53.50 cents/lb. US refinery-grade propylene (RGP) bid/offer levels moved to 57-58 cents/lb, higher than the previous reported deal at 57 cents/lb.
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