12 July 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $105.58/bbl, up 67 cents; Aug Brent: $108.55/bbl, up 82 cents
NYMEX WTI crude futures consolidated recent gains and traded within the previous session’s high/low range in search of a comfort level. The overall bias remained to the upside, receiving underlying support from a surge in gasoline (RBOB) futures.
RBOB: Aug $3.1185/gal, up 9.71 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices registered a new high for the August contract during morning trading on concerns of a drop in near-term supplies stemming from refinery maintenance, particularly in the Midwest region.
NATURAL GAS: Aug: $3.667/MMBtu; up 5.4 cents
The August contract on the NYMEX natural gas futures market rose through Friday morning, reversing much of the losses incurred on Thursday, on the back of improving near-term demand fundamentals and rising market confidence.
ETHANE: higher at 24.00 cents/gal
Ethane spot prices were higher, following natural gas futures and other energy commodities.
AROMATICS: styrene up at 75-76 cents/lb
Prompt styrene spot prices were discussed at 75-76 cents/lb FOB (free on board) on Friday. The range was up from 74-75 cents/lb FOB earlier in the week, alongside tight supply and a recent turnaround from a major producer.
OLEFINS: ethylene offered lower at 55 cents/lb, RGP steady 56.75 cents/lb
US July ethylene offer levels fell to 55.0 cents/lb from 56.5 cents/lb seen on Wednesday, after no fresh offers were heard on Thursday. US July refinery-grade propylene (RGP) was steady 56.75 cents/lb, based on a deal done the previous day.
For more pricing intelligence please visit www.icispricing.com
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