26 July 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Sep WTI: $104.52/bbl, down 97 cents; Sep Brent: $106.98/bbl, down 67 cents
NYMEX WTI crude futures fell on pre-weekend selling and in response to concerns regarding declining Chinese demand and the dollar shifting lower against the euro. The weakness overshadowed selling in the stock market as a result of mixed corporate earnings.
RBOB: Aug $3.0380/gal, up 2.10 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during morning and mid-day on concerns that Tropical Storm Dorian will strengthen and threaten oil production and refining in the US Gulf and east coast.
NATURAL GAS Aug $3.592/MMBtu; down 5.2 cents
The August contract on the NYMEX natural gas futures market carried its recent losing streak into a third straight day, losing value on concerns surrounding cooler temperature predictions for the near term and ongoing strong production.
ETHANE: steady at 25.50 cents/gal
Ethane spot prices were assessed steady in early trading based on similar bids and offers in the market.
AROMATICS: benzene down at $4.18-4.22/gal
Prompt benzene spot prices were discussed at a lower price early in the day. The morning range was down from $4.20-4.25/gal FOB (free on board) the previous session.
OLEFINS: ethylene wider at 52-56 cents/lb cents/lb, RGP bid flat at 56.5 cents/lb
US July ethylene bid/offer levels widened to 52.0-56.0 cents/lb compared with the previous day’s trading range of 53.5-54.5 cents/lb. US July refinery-grade propylene (RGP) bid levels were flat at 56.5 cents/lb.
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