NOON SNAPSHOT - Americas Markets Summary

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.

OLEFINS: ethylene bid higher at 55.5-56.0 cents/lb, RGP done lower at 57.5 cents/lb
US June ethylene bids moved higher to 55.5-56.0 cents/lb from 55.5 cents/lb the previous day. US June refinery-grade propylene (RGP) was done lower at 57.500 cents/lb compared with the previous reported deal at 57.625 cents/lb seen the previous week.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly