21 October 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday ?xml:namespace>
CRUDE: Nov WTI: $99.80/bbl, down $1.01; Dec Brent: $109.65bbl, down 29 cents
NYMEX WTI crude futures fell in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a much greater-than-forecast build in crude stocks. The statistics for the week ended 11 October should have been released on 16 October but were delayed by the government shutdown. The delayed data also revealed a crude build at the NYMEX delivery hub in Cushing, Oklahoma. WTI bottomed out at $99.45/bbl before rebounding.
RBOB: Nov $2.6658/gal, down 0.74 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during early morning hours, but prices slipped by midday, levelling off around the $2.66/gal mark. The decline came despite the delayed EIA report, which showed a build in consumption and a decline in inventories.
NATURAL GAS: Nov: $3.736/MMBtu, down 2.8 cents
NYMEX natural gas futures began the week sliding several cents, losing value on changing weather forecasts, which now show warmer-than-anticipated temperatures across the Midwest and east coast for early November and concerns surrounding strong production levels.
ETHANE: wider at 25.50-25.75 cents/gal
The ethane spot price range widened as demand from crackers remained steady. A drop in natural gas prices midday kept ethane from rising further.
AROMATICS: benzene down at $3.90-4.05/gal
Prompt benzene spot prices were discussed at $3.90-4.05/gal early in the day, sources said. The range was down from $4.04-4.09/gal FOB (free on board) the previous session.
OLEFINS: ethylene lower at 44.00-48.75 cents/lb, PGP bid lower at 62 cents/lb
US October ethylene bid/offer levels fell to 44.00-48.75 cents/lb to start Monday from 46.00-50.00 cents/lb at the close of the previous week. US polymer-grade propylene (PGP) bid levels fell slightly to 62.00 cents/lb from 62.25 cents/lb against no fresh offers.
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