09 October 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Nov WTI: $101.45/bbl, down $2.04; Nov Brent: $108.50/bbl, down $1.66
NYMEX WTI crude futures fell sharply in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a much greater than expected build in crude stocks. The market also responded to a stronger dollar.
RBOB: Nov $2.6088/gal, down 2.18 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded lower midday after the US EIA report showed a build in gasoline inventories last week.
NATURAL GAS: Nov: $3.689/MMBtu: down 2.7 cents
The front month on the NYMEX natural gas futures market slipped for the first time this week, losing value on cooler near term weather forecasts though an explosion at an Oklahoma natural gas pipeline provided some pricing support.
ETHANE: lower at 25.00 cents/gal
Ethane spot prices retreated in early trading, as natural gas futures were weaker.
AROMATICS: benzene higher at $4.16-4.22/gal FOB
Benzene spot prices were higher in early trading, as an earlier dip was seen as a buying opportunity.
OLEFINS: ethylene steady at 44 cents/lb, PGP steady at 63.25 cents/lb
US October ethylene was steady at 44 cents/lb on Wednesday, based on the two most recent reported trades. US October polymer-grade propylene (PGP) was steady at 63.25 cents/lb, based on the most recent reported trade.
For more pricing intelligence please visit www.icispricing.com
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