NOON SNAPSHOT - Americas Markets Summary

10 October 2013 18:00  [Source: ICIS news]

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

CRUDE: Nov WTI: $103.19/bbl, up $1.58; Nov Brent: $111.51/bbl, up $2.45
NYMEX WTI crude futures were sharply higher in the morning on a potential deal by US lawmakers that would raise the debt limit in the short term. Strong Brent futures also supported the rally as Libya’s prime minister was detained in Tripoli, underscoring the fragile state of the country’s government.

RBOB: Nov $2.6984/gal, up by 7.54 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures spiked, tracking stronger crude oil.

NATURAL GAS: Nov $3.765/MMBtu, up 8.6 cents
NYMEX natural gas futures market bounced back from Wednesday’s fall, surging up over 2% on the back of a bullish natural gas storage report from the Energy Information Administration (EIA), which showed a slightly lower injection in the US inventories over the week ended 3 October.  

ETHANE: higher at 25.50 cents/gal
Ethane spot prices were pushed higher by stronger natural gas futures.

AROMATICS: benzene wider at $4.16-4.25/gal
Prompt benzene spot prices were discussed at $4.16-4.25/gal FOB (free on board) early in the day, sources said. The morning range was wider compared with $4.17-4.23/gal FOB the previous afternoon.

OLEFINS: ethylene steady at 44 cents/lb, PGP bid lower at 61 cents/lb
US October ethylene was steady at 44 cents/lb on Thursday, based on the two most recent reported trades. US October polymer-grade propylene (PGP) was bid lower at 61.000 cents/lb compared with 62.625 cents/lb earlier in the week.

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By: Staff Reporter
+44 20 8652 3214

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