25 June 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $95.35/bbl, up 17 cents; Aug Brent: $101.52/bbl, up 36 cents
NYMEX WTI crude futures rose modestly, defying a stronger dollar and tracking a rally in the stock market in response to upbeat economic data. WTI topped out at $96.17/bbl before retreating, attempting to consolidate Monday’s gains.
RBOB: Jul $2.7495/gal, up 1.19 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were higher midday as they tried to offset Monday’s losses. Some support came from improvement in the outside market sentiment and a rally in global equity markets.
NATURAL GAS: Jul: $3.697/MMBtu, down 4.2 cents
The front month on the NYMEX natural gas futures market extended Mondays slide, falling 1% over Tuesday morning on the cooling near-term temperature outlook for high demand regions and high production levels.
ETHANE: lower at 24.50 cents/gal
Ethane spot prices were up as high as 25.63 cents/gal, but prices weakened as demand fell along with natural gas futures.
AROMATICS: benzene wider at $4.18-4.28/gal
US benzene spot prices for July were discussed at $4.18-4.28/gal FOB (free on board) early in the day, sources said. The range was wider from $4.22-4.27/gal FOB late Monday.
OLEFINS: June ethylene bid higher at 54.5 cents/lb, June PGP bid lower at 57 cents/lb
US June ethylene bids moved slightly higher to 54.5 cents/lb from 54.0 cents/lb despite continued longer supply. US June polymer-grade propylene (PGP) bids fell to 57 cents/lb from 58 cents/lb on longer supply.
For more pricing intelligence please visit www.icispricing.com
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