NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Nov WTI: $101.03/bbl, up 36 cents; Dec Brent: $109.67/bbl, up 56 cents
NYMEX WTI crude futures drifted higher on pre-weekend buying following Thursday’s sell-off. A weak dollar encouraged buying across various commodities. WTI topped out at $101.71/bbl before retreating.

RBOB: Nov $2.6616/gal, up 1.37 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fluctuated throughout the morning hours but stayed in positive territory by midday. Thursday’s three-day low brought renewed buying interest into the morning.

NATURAL GAS: Nov: $3.699/MMBtu, down 5.8 cents
NYMEX natural gas futures headed lower for a fourth consecutive day, losing value after revised weather forecasts for the near-term edged temperature predictions upwards, suggesting gas demand for heating purposes would be lower than initially anticipated. Longer-range forecasts predicting a warmer-than-average early winter across high gas consumption regions, such as the northeast and Midwest, has intensified the bearish sentiment.

ETHANE: lower at 25.38 cents/gal
Ethane spot prices were lower, tracking weaker natural gas futures.

AROMATICS: benzene wider at $4.04-4.12/gal
Prompt benzene spot prices were discussed within a wider range early in the day, sources said. The morning range was further apart from $4.07-4.11/gal FOB (free on board) the previous session.

OLEFINS: ethylene bid higher at 46 cents/lb, RGP offered lower at 57 cents/lb
US October ethylene bid levels rose to 46 cents/lb from 45 cents/lb the previous day against no fresh offers. US October refinery-grade propylene (RGP) offer levels fell to 57 cents/lb from 58 cents/lb, while bids were steady at 56 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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