NOON SNAPSHOT - Americas Markets Summary

29 July 2013 18:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.

CRUDE: Sep WTI: $104.76/bbl, up 6 cents; Sep Brent: $107.41/bbl, up 24 cents
NYMEX WTI crude futures were up slightly on mixed signals from a weaker dollar and ongoing concerns about supply disruptions in the Middle East, including a forecast that Iraqi production will be flat in 2013 after three years of gains. Brent futures were also trading slightly higher on mixed feelings about supply and demand.

RBOB: Aug $3.0362/gal, down 0.82 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell slightly but began to trade closer to Friday’s close midday as the market began to shift its focus to the less expensive September contract, which will take over the prompt month spot on Thursday.

NATURAL GAS: Aug $3.439/MMBtu; down 11.6 cents
The August contract slumped further through Monday morning as the weather outlook for the near term continued to suggest below average temperatures through the next two weeks across the midwest and northeast high consumption regions. 

ETHANE: lower at 25.13 cents/gal
Ethane spot prices were lower on standard market fluctuations.

AROMATICS: benzene wider at $4.11-4.20/gal
Prompt benzene spot prices were discussed at $4.11-4.20/gal FOB (free on board) early in the day. The range was wider from $4.16-4.20/gal FOB the previous session.   

OLEFINS: ethylene tighter at 54-55/cents/lb, RGP flat at 56.5 cents/lb
US July ethylene bid/offer levels narrowed to 54.00-55.00 cents/lb compared with the range of 53.00-55.00 cents/lb from the previous session. US July refinery-grade propylene (RGP) levels were flat at 56.50 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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