13 September 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Oct WTI: $107.75/bbl, down 85 cents; Oct Brent: $112.18/bbl, down 45 cents
NYMEX WTI crude futures drifted lower in thin liquidity on pre-weekend selling on sentiment that geopolitical tensions have eased temporarily as the US and Russia engage in negotiations over Syria. Investors will be keeping an eye on next week’s US Federal Reserve’s meeting for signals regarding the easing of the easy money.
RBOB: Oct $2.7590/gal, down 0.37 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were little changed as the market was mixed from US west coast refinery glitches and a drop in this week’s gasoline consumption rates.
NATURAL GAS: Oct: $3.653/MMBtu, up 1.5 cents/MMBtu
US natural gas futures on the NYMEX were firming slightly in midday trading after the release of a lower-than-expected US Energy Information Administration (EIA) supply report on Thursday. Warmer temperatures in the forecast for parts of the US could bring on higher demand for cooling in the coming weeks.
ETHANE: lower at 24.50 cents/gal
Ethane spot prices were slightly lower in early trading on bids and offers in the market.
AROMATICS: benzene down at $4.46-4.53/gal
Prompt benzene spot prices were discussed at $4.46-4.53/gal FOB (free on board) early in the day, sources said. The range was down from $4.50-4.55/gal FOB the previous session.
OLEFINS: ethylene steady at 54.5 cents/lb, PGP bid higher at 65.5 cents/lb
US September ethylene prices were flat at 54.5 cents/lb, based on the most recent reported trade. US September polymer-grade propylene (PGP) was bid higher at 65.5 cents/lb compared with 64.5 cents/lb the previous day.
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