NOON SNAPSHOT - Americas Markets Summary

01 August 2013 18:00  [Source: ICIS news]

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

CRUDE: Sep WTI: $107.65/bbl, up $2.62; Sep Brent: $109.35/bbl, up $1.65
NYMEX WTI crude futures surged, tracking a rally in global stocks and on Wall Street in response to upbeat economic data emerging from China, the eurozone and the US. The euphoria on sentiment that the economic expansion will boost energy demand lifted September WTI up to $107.93/bbl before the rally was capped.

RBOB: Sep $3.0360/gal, up 3.97 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were stronger on Thursday as trading switched to the September contract as the prompt month, which has been trading much lower than the August contract.

NATURAL GAS: Sept: $3.399/MMBtu: down 4.7 cents
The front month on the NYMEX natural gas market resumed its recent slide through Thursday morning, losing value following the release of the Energy Information Administration’s (EIA) latest weekly gas stocks report, which showed an injection of 59 bcf (1.67 bcm) into storage over the week ended 26 July. 

ETHANE: steady at 25.25 cents/gal
Ethane spot prices were steady as supply and demand have been stable.

AROMATICS: benzene wider at $4.16-4.25/gal
Prompt benzene spot prices were discussed within a wider range early in the day as offers firmed and bids held steady. The morning range was further apart from $4.16-4.20/gal FOB (free on board) late Wednesday.

OLEFINS: ethylene flat at 53.125-53.250 cents/lb, PGP flat at 65.75 cents/lb
US August ethylene bid/offer levels remained flat at 53.125-53.250 cents/lb from the previous day. US August polymer-grade (PGP) futures remained flat at 65.75 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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