23 July 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Sep WTI: $106.73/bbl, down 21 cents; Sep Brent: $108.46/bbl, up 31 cents
NYMEX WTI crude futures worked lower on the first day for September as the spot month on sentiment that recent gains had been overdone and demand should taper off. ICE Brent rallied on the back of upbeat news regarding the Chinese economy.
RBOB: Aug $3.0783/gal, up 2.32 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures recovered some of Monday’s losses on a number of refinery glitches in the US Gulf coast.
NATURAL GAS Aug $3.753/MMBtu; up 7.6 cents
The August contract on the NYMEX natural gas futures market took back some of the losses registered over Monday despite the continued cooling of weather forecasts for the near term.
ETHANE: higher at 25.38 cents/gal
Ethane spot prices were up, tracking stronger natural gas futures and increased buying activity.
AROMATICS: benzene up at $4.10-4.17/gal
Prompt benzene spot prices were discussed within a slightly higher range early in the day, sources said. The range was up from $4.08-4.15/gal FOB (free on board) late on Monday.
OLEFINS: ethylene wider at 52-56 cents/lb, PGP bid higher at 63 cents/lb
US July ethylene bid/offer levels moved wider to 52.00-56.00 cents/lb from 54.50-54.75 seen the previous week as a cracker began its restart process. US July polymer-grade propylene (PGP) bid levels rose to 63.0 cents/lb from 62.5 cents/lb.
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