NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $97.70/bbl, up 59 cents; Dec Brent: $106.49/bbl, down 50 cents
NYMEX WTI crude futures drifted higher on pre-weekend short covering from a sell-off earlier in the week in response to rising inventories. WTI topped out at $97.88/bbl before retreating.

RBOB: Nov $2.5668/gal, down 2.28 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher in overnight action but did not hold on to those gains on Friday morning. Prices continue to decline as the November contract heads to expiration.

NATURAL GAS: Nov $3.675MMBtu, up 4.6 cents
NYMEX natural gas futures began the last trading day of the week edging upwards, rising over 1% on strong near-term demand indicators from the power sector and expectations of robust weekend heating demand across the east and Midwest regions.

ETHANE: higher at 25.75 cents/gal
Ethane spot prices edged higher on confirmed deals in the market.

AROMATICS: benzene wider at $4.05-4.25/gal
November benzene spot prices were discussed within a wider range early in the day, sources said. The morning range was wider compared with $4.07-4.15/gal FOB the previous session.

OLEFINS: ethylene steady at 46.5-48.0 cents/lb, PGP wider at 62.5-64.0 cents/lb
US October ethylene bid/offer levels held steady at 46.5-48.0 cents/lb as the recent rally continued to hold onto its momentum. US October polymer-grade propylene (PGP) bid/offer levels widened to 62.500-64.000 cents/lb from 62.625-63.250 cents/lb the previous day.

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By: Staff Reporter
+44 20 8652 3214

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