15 October 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Nov WTI: $101.90/bbl, down 51 cents; Nov Brent: $110.20/bbl, down 84 cents
NYMEX WTI crude futures drifted lower but traded within a narrow range as the dollar rallied and the stock market worked lower. Iran’s proposal to ease the stand-off over its nuclear programme and optimism regarding a possible solution to the government shutdown triggered selling.
RBOB: Nov $2.6697/gal, up 0.29 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during morning hours, registering a new high in the process. However, prices began to fall as crude futures weakened.
NATURAL GAS: Nov: $3.807/MMBtu, down 1.3 cents
NYMEX natural gas futures edged lower through Tuesday morning for the first time since the middle of last week, despite expectations that cooling temperatures in the near term could lead to increased gas demand for heating needs and ongoing power sector consumption due to nuclear plant outages.
ETHANE: lower at 25.50 cents/gal
Ethane spot prices were lower as buying activity for ethane has diminished.
AROMATICS: benzene lower at $4.04-4.07/gal
Prompt benzene spot prices moved slightly lower early in the day, sources said. There were no fresh trades heard, but the benzene range was down from $4.05-4.10/gal FOB (free on board) the previous session.
OLEFINS: ethylene done higher at 43.75 cents/lb, PGP bid steady at 60.5 cents/lb
US October ethylene traded at 43.750 cents/lb on Tuesday morning, higher than the previous two reported deals at 43.625 cents/lb. US October polymer-grade propylene (PGP) was bid steady at 60.5 cents/lb against no fresh offers.
For more pricing intelligence please visit www.icispricing.com
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