18 June 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $97.89/bbl, up 12 cents; Aug Brent: $105.57/bbl, up 10 cents
NYMEX WTI crude futures extended recent gains tracking a rally in the stock market in response to a positive economic outlook reflected by a rise in US consumer prices. WTI is also in search of a near-term top, reaching $98.49/bbl before running out of steam.
RBOB: Jul $2.8614/gal, up by 0.53 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rose by less than 1 cent/gal in morning trading. Futures had fallen to a three-day low in early morning trading on concerns of a supply build in the US Gulf (USG), New York Harbor (NYH) and Midwest regions.
NATURAL GAS: Jul $3.945/MMBtu, up 7.0 cents
The July contract on the NYMEX natural gas market extended Monday’s surge into a second straight day, rising on the continued strong demand outlook for the northern states over the next two weeks with the onset of above average temperatures.
ETHANE: higher at 24.25 cents/gal
Ethane spot prices firmed, following stronger natural gas futures.
AROMATICS: benzene tighter at $4.27-4.36/gal
Prompt June benzene spot prices were discussed at $4.27-4.36/gal FOB (free on board) early in the day, sources said. The range was tighter from $4.25-4.36/gal FOB the previous session as bids levels gained a penny.
For more pricing intelligence please visit www.icispricing.com
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