08 July 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $103.14/bbl, down 8 cents; Aug Brent: $107.43/bbl, down 29 cents
NYMEX WTI crude futures posted light losses for the first time in five sessions on correction to overbought conditions after factoring in economic and geopolitical concerns. The overall market’s bias, however, remains to the upside, and dips are still seen as buying opportunities.
RBOB: Aug $2.8837/gal, down 1.31 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded higher midday but settled lower as it tracked the weakness in WTI crude futures.
NATURAL GAS: Aug: $3.741/MMBtu, up 12.4 cents
The August contract on the NYMEX natural gas futures market began the new week with a big jump, rising on changing weather forecasts indicating warmer than previously expected temperatures across high consumption regions through the second half of the month, as well as strengthening tropical storm activity in the US Gulf that could threaten gas production facilities.
ETHANE: higher at 24.50 cents/gal
Ethane spot prices were higher on Monday, tracking stronger natural gas futures as the rest of the energy complex was mostly weaker.
AROMATICS: toluene up at $3.58-3.75/gal
Prompt n-grade toluene prices were discussed within a higher range during the day, sources said. The afternoon range was up from $3.55-3.65/gal FOB (free on board) last Wednesday.
OLEFINS: ethylene offered lower at 59-60 cents/lb, RGP bid higher at 55.00-55.75 cents/lb
US July ethylene was offered lower at 59.0-60.0 cents/lb compared with 59.0-61.5 cents/lb at the close of the previous week. Bids for US July refinery-grade propylene (RGP) moved higher to 55.00-55.75 cents/lb compared with 54.00-55.25 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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