NOON SNAPSHOT - Americas Markets Summary

30 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: $103.15/bbl, down $1.40; Sep Brent: $106.91/bbl, down 54 cents
NYMEX WTI crude futures sold down sharply despite the absence of a clear driver since the stock market was posting modest gains and the dollar shifted lower against a basket of currencies. Investors continued to shed length after crude futures rose steadily above $109.00/bbl during the two previous weeks. Sentiment that key world economies were slowing down and could affect energy demand contributed to the selling.

RBOB: Aug $3.0163/gal, up 0.38 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were slightly higher during morning trading in reaction to Monday’s negative settlement. Uncertainty over this week’s US Energy Information Administration (EIA) report kept RBOB from making further gains.

NATURAL GAS Sep: $3.438/MMBtu; down 3.4 cents
The September contract began its term as the front month on the NYMEX falling in the face of ongoing depressed demand fundamentals, with the weather outlook for the near term continuing to predict below-average temperatures through the next two weeks.

ETHANE: higher at 25.25 cents/gal
Ethane spot prices were slightly higher on confirmed deals in the market.

AROMATICS: Benzene wider at $4.03-4.14/gal
Prompt benzene spot prices were discussed within a wider range early in the day as bids declined. The morning range was wider from $4.10-4.14/gal FOB (free on board) the previous session.

OLEFINS: Ethylene lower at 53.25 cents/lb, PGP flat at 65 cents/lb
US July ethylene traded at 53.25 cents/lb, compared with the previous day’s trading range of 53.50-56.00 cents/lb. US July polymer-grade propylene (PGP) prices were flat at 65 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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