19 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: $107.10/bbl, down 36 cents; Oct Brent: $110.27/bbl, down 13 cents
NYMEX WTI crude futures drifted lower on light profit taking, following six consecutive sessions of positive settlement. The market has received support from crude production worries in north Africa and the Middle East, while weather concerns in the Gulf coast region eased. WTI bottomed out at $106.56/bbl before rebounding.
RBOB: Sep: $2.9525/gal, down by 1.50 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) gasoline futures were down by 1.50 cents/gal in morning trading as crude oil futures were weaker. Unemployment rates rose in more than half of the US states, and civil unrest continued in Egypt.
NATURAL GAS: Sep: $3.477/MMBtu, up 10.9 cents
The front month on the NYMEX natural gas market began the new week jumping over 3% on the expectation of rising near-term demand through to the end of the month as temperatures across the Midwest and northeast turn hotter.
ETHANE: higher at 24.88 cents/gal
Ethane spot prices were higher as natural gas futures surged higher in morning trading.
AROMATICS: benzene offered up at $4.38/gal
August benzene activity was held to offers early in the day, sources said. August offers in the morning were above $4.26-4.32/gal FOB (free on board) from the previous session.
OLEFINS: ethylene flat at 55 cents/lb, PGP higher at 66-69 cents/lb
US August ethylene prices were steady at 55 cents/lb, based on the past four reported trades in the market. Bid/offer levels for August polymer-grade propylene (PGP) moved up to 66-69 cents/lb from 63-68 cents/lb seen to close the previous week.
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