05 August 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Sep WTI: $106.83/bbl, down 11 cents; Sep Brent: $108.75/bbl, down 20 cents
NYMEX WTI crude futures drifted lower in the absence of a clear driver. Reports that crude production had been restored in various producing countries and data showing eurozone retail sales down resulted in an intra-day drop. Modest losses in the stock market also provided underlying pressure.
RBOB: Sep $2.9639/gal, down 3.08 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures trended lower during morning hours on concerns of US gasoline demand and weakness in crude futures.
NATURAL GAS: Sep: $3.322/MMBtu, down 2.5 cents
Natural gas futures slipped at the start of the trading week given the sluggish outlook for gas consumption in the region. Near-record production figures and temperate forecasts have kept the Henry Hub benchmark at five-month lows.
ETHANE: steady at 25.00 cents/gal
Ethane spot prices were steady after the weekend as activity was thin.
AROMATICS: benzene wider at $4.12-4.22/gal
Prompt US benzene spot prices were discussed within a wider range early in the day, source said. The range was further apart from $4.15-4.19/gal FOB (free on board) on Friday afternoon.
OLEFINS: ethylene lower at 53.00 cents/lb, PGP flat at 65.75 cents/lb
US August ethylene bid/offer levels fell to 53.00 cents/lb on a confirmed trade. US August polymer-grade propylene (PGP) bid/offer levels remained flat at 65.75 cents/lb.
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