26 June 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $95.27/bbl, down 5 cents; Aug Brent: $101.45/bbl, up 19 cents
NYMEX WTI crude futures were mixed, bouncing between positive and negative territory in search of near-term direction. A contrary-to-forecast build in crude stocks and a large build in gasoline inventories revealed by the weekly supply statistics from the Energy Information Administration (EIA) also pressured the energy complex, but the dip attracted buying and the losses were recouped.
RBOB: Jul: $2.7074/gal, down by 3.0 cents/gal
Reformulated blendstock for oxygen blending (RBOB) prices were weaker after the EIA released statistics showing a large build in inventories.
NATURAL GAS: Jul: $3.689/MMB tu, up 4.2 cents
The July front month contract on the NYMEX natural gas market recovered some of the gains incurred over its recent four-session losing streak, edging up over 1% through Wednesday morning as traders looked to cover near-term demand from the power sector before the contracts expiration this evening.
ETHANE: lower at 24.25 cents/gal
Ethane spot prices were lower in early trading, tracking weak demand.
AROMATICS: benzene offered up at $4.24/gal
July benzene was offered at $4.24/gal FOB (free on board) early in the day, sources said. The offer was up from $4.18/gal FOB late on Tuesday. Bid levels were not disclosed.
OLEFINS: ethylene done lower at 57 cents/lb, June PGP steady at 57.00-62.25 cents/lb
US June ethylene traded at 57.0 cents/lb, lower than the previous reported deal at 57.5 cents/lb. US June polymer-grade propylene (PGP) bids and offers were steady at 57.00-62.25 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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