EVENING SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Sep WTI: $104.55/bbl, down 15 cents; Sep Brent: $107.45/bbl, up 28 cents
NYMEX WTI crude futures fell in a day that saw narrow trading on both sides of the previous close. Traders said they were waiting for the two-day Federal Reserve meeting that starts on Tuesday to get a sense of where the US economy and monetary policy may be heading. Brent futures also traded in a narrow range, finishing up just 28 cents/bbl on a weaker dollar, supply concerns and tensions in the Middle East.

RBOB: Aug $3.0125/gal, down 3.19 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower as it tracked weaker crude futures and as the market began to shift its focus to the less expensive September contract, which will take over the prompt month spot on Thursday. September RBOB futures settled at $2.9780/gal on Monday.

NATURAL GAS: Aug $3.459/MMBtu; down 9.6 cents
The August contract saw last week's losses continue into the new week, with the August front month contract below $3.50/MMBtu for the first time since early March as forecasts for cool weather and dissipating tropical storm activity in the US Gulf increased bearish sentiment across the market.

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

AROMATICS: toluene down at $3.80-3.92/gal, mixed xylenes down at $3.90-4.02/gal
Prompt n-grade toluene spot prices were discussed at $3.80-3.92/gal FOB (free on board) during the day, sources said. The range was down from $3.85-3.95/gal FOB the previous session. Meanwhile, prompt mixed xylenes (MX) spot prices were discussed at $3.90-4.02/gal FOB, down from $3.95-4.05/gal FOB on Friday.

OLEFINS: ethylene tighter at 53.5-56.0/cents/lb, PGP flat at 65 cents/lb
US July ethylene bid/offer levels narrowed to 53.5-56.0 cents/lb, compared with the previous session’s trading range of 52-56 cents/lb, with deals done at 53.5 cents/lb and 54 cents/lb. US July polymer-grade propylene (PGP) prices were flat at 65 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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