NOON SNAPSHOT - Americas Markets Summary

12 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: $106.24/bbl, up 27 cents; Sep Brent: $108.60/bbl, up 38 cents
NYMEX WTI crude futures extended Friday’s rally following a brief profit-taking dip. Crude production issues in the North Sea, Libya and Iraq encouraged the rally.

RBOB: Sep $2.8884/gal, down 1.98 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded lower midday, as recent declines in retail gasoline prices signalled a drop in demand for the commodity.

NATURAL GAS Sep: $3.348/MMBtu: up 11.8 cents
The front month on the NYMEX natural gas market rocketed up through Monday morning trading, boosted by changing weather forecasts. Milder temperatures currently in place across the US northeast and Midwest are expected to give way to above-average temperatures toward the end of the month.

ETHANE: higher at 24.38 cents/gal
Ethane spot prices were higher, following a rally in natural gas futures.

AROMATICS: Benzene wider at $4.15-4.25/gal
August bid/offer levels began the week wider this morning. There were no fresh deals heard done, as bid/offers were further apart from $4.17-4.23/gal FOB (free on board) the previous session.

OLEFINS: ethylene steady 54 cents/lb, RGP offered flat at 63 cents/lb
US August ethylene prices were steady at 54 cents/lb, although continued demand concerns could push prices lower. US August refinery-grade propylene (RGP) prices remained offered at 63 cents/lb against no fresh bids.

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By: Staff Reporter
+44 20 8652 3214

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