NOON SNAPSHOT - Americas Markets Summary

17 June 2013 18:00  [Source: ICIS news]

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

CRUDE: Jul WTI: $98.12/bbl, up 27 cents; Aug Brent: $106.22/bbl, up 29 cents
NYMEX WTI crude futures worked modestly higher, tracking a rally in the stock market and receiving underlying support from geopolitical concerns that the Syrian civil war could escalate throughout the region. WTI topped out at $98.74/bbl before running out of steam.

RBOB: Jul $2.8819/gal, down by 1.48 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were slightly lower in early trading. Prices were volatile, trading on either side of Friday’s close throughout, as traders were concerned that supplies would surge in the Midwest now that a large refinery in Illinois is back online.

NATURAL GAS Jul: $3.826/MMBtu, up 9.3 cents
The July contract on the NYMEX natural gas market surged through Monday morning trading, boosted by warmer weather forecasts for the US northeast and Midwest over the coming two weeks.

ETHANE: higher at 23.75 cents/gal
Ethane spot prices were higher as natural gas futures strengthened in early trading.

AROMATICS: Benzene wider at $4.25-4.38/gal
Prompt benzene spot prices were discussed within a wider range early in the day, as offers firmed. The morning range was further apart from $4.25-4.30/gal FOB (free on board) the previous session.

OLEFINS: Ethylene steady at 59-60 cents/lb, PGP offered higher at 64.5-66.0 cents/lb
US June ethylene spot prices were steady at 59-60 cents/lb as market players continued to wait for more information from the Williams shutdown. US polymer-grade propylene (PGP) was offered higher at 64.50-66.00 cents/lb compared with 63.75-65.00 cents/lb at the close of the previous week.

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By: Staff Reporter
+44 20 8652 3214

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