NOON SNAPSHOT - Americas Markets Summary

19 September 2013 18:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.

CRUDE: Oct WTI: $107.12/bbl, down 95 cents; Nov Brent: $109.14/bbl, down $1.46
NYMEX WTI crude futures gave back a portion of Wednesday’s gains on sentiment that the rally had been overdone and in response to some conciliatory words out of Iran. WTI bottomed out at $106.85/bbl before rebounding.

RBOB: Oct $2.7041/gal, down 3.80 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded lower during morning hours after reports that US unemployment benefit claims increased last week.

NATURAL GAS Oct: $3.748/MMBtu: up 3.5 cents
The October front-month contract on the NYMEX was up nearly 1%, boosted by bullish sentiment surrounding the Energy Information Administration’s (EIA) latest weekly gas storage report, which showed a lower-than-expected injection into US natural gas storage capacity over the week ended 13 September.

ETHANE: higher at 25.00 cents/gal
Ethane spot prices were slightly higher on normal market fluctuations.

AROMATICS: Benzene tighter at $4.43-4.45/gal
Prompt benzene spot prices moved to within a tighter range early in the day, sources said. Bids were up, while offers held steady. As a result, the range was narrower compared with $4.40-4.45/gal FOB (free on board) the previous session.

OLEFINS: ethylene tighter at 52.00-53.25 cents/lb, RGP flat at 56.50-57.75 cents/lb
US September ethylene bid/offer levels tightened to 52.00-53.25 cents/lb from 51.00-54.00 cents/lb a day ago. US September refinery-grade propylene (RGP) bid/offer levels were steady at 56.50-57.75 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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