EVENING SNAPSHOT - Americas Markets Summary

19 July 2013 23:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Aug WTI: $108.05/bbl, up 1 cent; Sep Brent: $108.07/bbl, down 63 cents
NYMEX WTI crude futures finished near unchanged in choppy action ahead of the weekend. WTI hit an intra-day high of $109.32/bbl before retreating on profit taking and correction to overbought conditions. The August contract goes off the board on Monday. During the session, the September Brent-WTI spread reversed briefly for the first time since October 2010 for WTI to trade at a slight premium to Brent.

RBOB: Aug $3.1234/gal, up 1.36 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled higher, reaching a new contract high in the process on increased buying ahead of the weekend and on the gains in WTI crude oil futures.

NATURAL GAS: Aug: $3.789/MMBt; down 2.3 cents
The August contract on the NYMEX natural gas futures closed the week down from the 19-session high posted Thursday, as cooling weather forecasts for the US northeast and Midwest toward the end of the month curbed bullish sentiment going into the weekend. Despite the fall, the August contract was up 4% for the week.

ETHANE: higher at 25.50-25.75 cents/gal
Bid and offer levels for ethane spot prices were slightly higher as the market tracked strength in the energy complex.

AROMATICS: styrene up at 75.75-76.25 cents/lb
July styrene spot levels were discussed on either side of 76 cents/lb on Friday, sources said. The range was up slightly from 75-76 cents/lb a week earlier. Trade sources have said July styrene is mostly sold out for the month on recent and ongoing turnarounds.

OLEFINS: ethylene steady at 54.50-54.75 cents/lb; PGP bid lower at 61 cents/lb
US July ethylene prices were steady at 54.50-54.75 cents/lb, based on the two most recent reported transactions. US July polymer-grade propylene (PGP) was heard bid lower at 61.0 cents/lb compared with 61.5 cents/lb seen on Wednesday.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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