26 September 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Nov WTI: $102.94/bbl, up 28 cents; Nov Brent: $108.88/bbl, up 56 cents
NYMEX WTI crude futures rose on bargain hunting, following five consecutive down sessions. The rally took place despite signs of easing geopolitical tensions and rising crude supplies in various OPEC countries. A fall in US jobless claims propped up the dollar, making dollar-denominated commodities more expensive. WTI topped out at $103.29/bbl before the rally was capped.
RBOB: Oct $2.6797/gal, up 0.68 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded above $2.68 during morning hours on the back of higher crude futures, but the strong gains were short lived, dropping below that mark by midday.
NATURAL GAS: Oct: $3.482/MMBtu, down 1.1 cents/MMBtu
Natural gas futures slipped in early trading as government statistics showed a larger-than-expected injection of supplies.
ETHANE: lower at 23.88 cents/gal
Ethane spot prices were slightly lower, following natural gas futures.
AROMATICS: benzene flat at $4.35-4.40/gal
US benzene activity was thin early in the day, sources said. As a result, prompt benzene spot prices were flat from $4.35-4.40/gal FOB (free on board) the previous session.
OLEFINS: ethylene lower at 51.50-51.75 cents/lb, RGP bid lower at 55.75 cents/lb
US ethylene bid/offer levels were heard at 51.50-51.75 cents/lb, down from the previous day’s three trades at 51.75 cents/lb, mostly on weaker demand. US refinery-grade propylene (RGP) was bid lower at 55.75 cents/lb compared with 56.00 cents/lb earlier in the week.
For more pricing intelligence please visit www.icispricing.com
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