16 July 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $106.19/bbl, down 13 cents; Aug Brent: $109.22/bbl, up 13 cents
NYMEX WTI crude futures drifted lower in profit taking after an early rally faded. Gains in the gasoline complex kept the losses in check.
RBOB: Aug $3.1263/gal, up 2.34 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices steadily increased throughout morning trading, despite some weakness in the crude market. Concern that recent high retail gasoline prices would cut consumer demand could weaken RBOB futures.
NATURAL GAS: Aug: $3.700/MMBtu; up 2.6 cents
The August contract on the NYMEX natural gas futures market began the day looking to extend its recent winning streak into a third straight session, boosted by expectations of high demand in the near term from the power sector, due to forecasts for higher than average temperatures across high demand regions.
ETHANE: higher at 24.375 cents/gal
Ethane spot prices were slight higher as it drew strength from natural gas futures.
AROMATICS: benzene wider at $4.08-4.16/gal
Buyer interest was quiet for July benzene this morning as bids held steady from late Monday. However, July benzene offer levels were up by 1 cent/gal from $4.15/gal the previous session.
OLEFINS: ethylene bid lower at 50 cents/lb, PGP done lower at 61.5 cents/lb
US July ethylene bids fell to 50 cents/lb on Tuesday compared with 50.5-53.5 cents/lb the previous day, tracking softer demand. US July polymer-grade propylene (PGP) traded late on Monday at 61.5 cents/lb, lower than the previous reported deal of 63.0 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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