04 September 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Oct WTI: $107.46/bbl, down $1.08; Oct Brent: $115.24/bbl, down 44 cents
NYMEX WTI crude futures fell on profit taking, despite a rally in the stock market on sentiment that an imminent attack on Syria was taking a backseat while waiting for an endorsement from the US Congress. Export outages in various OPEC producers in Africa and the Middle East kept the losses in check, mainly on Brent.
RBOB: Oct $2.8711/gal, up 0.65 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures had little change during morning hours. RBOB remains under pressure as trade for summer blends winds down.
NATURAL GAS: Oct $3.649/MMBtu, down 1.7 cents
The October front month contract on the NYMEX natural gas futures market edged lower from Tuesday’s near-six-week high as traders looked to consolidate on recent gains of nearly 18%, stemming from warmer-than-average temperatures across much of the country.
ETHANE: lower at 26.00 cents/gal
Ethane spot prices were lower in early trading. Demand has been stable with no major cracker outages or start-ups reported.
AROMATICS: benzene up at $4.55-4.60/gal
September benzene spot prices rose early in the day, following a deal at $4.55/gal. The morning range was up from $4.44-4.50/gal FOB (free on board) the previous session.
OLEFINS: ethylene done lower at 52.5-53.0 cents/lb, PGP bid lower at 64 cents/lb
US September ethylene traded at 52.5 and 53.0 cents/lb, lower than the previous day’s reported deal of 55.0 cents/lb. US September polymer-grade propylene (PGP) bid levels fell to 64 cents/lb from 65 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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