NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $96.46/bbl, down 40 cents; Dec Brent: $107.37/bbl, down 43 cents
NYMEX WTI crude futures drifted lower for the fourth consecutive session in search of a near-term bottom, while factoring in rising inventories revealed by weekly supply statistics from the US Energy Information Administration (EIA). WTI hit an intra-day low of $95.95/bbl before rebounding.

RBOB: Nov $2.5783/gal, up 2.60 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures moved up on Thursday morning on news of a refinery fire in the Midwest.

NATURAL GAS: Nov: $3.602MMBtu, down 1.7 cents
NYMEX natural gas futures edged lower through Thursday morning, following the release of the EIA’s latest weekly gas storage report, which showed an injection of 87 billion cubic feet (bcf) (2.5 billion cubic metres) into US inventories over for the week ended 18 October.

ETHANE: tighter at 25.25 cents/gal
Ethane spot prices tightened on Thursday, moving to the lower side of the previous day’s 25.25-25.50 cents/gal level, tracking stable demand.

AROMATICS: mixed xylene flat at $3.60-3.73/gal
Prompt mixed xylene (MX) prices were flat at $3.60-3.73/gal FOB (free on board) in an inactive market.

OLEFINS: ethylene bid higher at 46.5 cents/lb, PGP wider at 63.00-65.25 cents/lb
US October ethylene was bid higher at 46.5 cents/lb, compared with 45.0 cents/lb the previous day, while offers were steady at 48.5 cents/lb. US October polymer-grade (PGP) bid/offer levels widened to 63.00-65.25 cents/lb from 64.00-64.75 cents/lb the previous day.

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By: Staff Reporter
+44 20 8652 3214

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