NOON SNAPSHOT - Americas Markets Summary

28 October 2013 17:00  [Source: ICIS news]

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

CRUDE: Dec WTI: $98.41/bbl, up 56 cents; Dec Brent: $109.00/bbl, up $2.07
NYMEX WTI crude futures rose, tracking a strong rally on ICE Brent in response to a drop in Libyan crude exports due to protests. The market also responded to released data showing a jump in US industrial output. WTI topped out at $98.82/bbl before retreating.

RBOB: Nov. $2.6332gal, up 4.61 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rallied in early trading, following strength in crude oil. Additionally, last week’s slump was seen as a buying opportunity early in the day.

NATURAL GAS: Nov: $3.571/MMBtu, down 13.6 cents
NYMEX natural gas futures slumped through Monday morning, crashing nearly 4% on the back of warmer weather forecasts for early November and concerns over near-record high production output and its impact on already-robust storage levels.

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

AROMATICS: benzene wider at $4.12-4.23/gal
Prompt benzene spot prices were wider early in the day, sources said. The morning range was further apart compared with $4.12-4.16/gal FOB (free on board) the previous session.

OLEFINS: ethylene higher at 47.5-48.5 cents/lb, PGP wider at 62-65 cents/lb
US October ethylene bid/offer levels moved up to 47.5-48.5 cents/lb to start the week, compared with 46.5-48.0 cents/lb at the close of the previous week. US October polymer-grade propylene (PGP) bid/offer levels widened to 62.0-65.0 cents/lb from 62.5-64.0 cents/lb at the close of the previous week.

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By: Staff Reporter
+44 20 8652 3214

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