01 November 2013 17:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Dec WTI: $94.90/bbl, down $1.48; Dec Brent: $106.61/bbl, down $2.23
NYMEX WTI crude futures fell sharply on pre-weekend selling in response to the US dollar firming against a basket of currencies, making dollar-denominated commodities more expensive. Released data showing an expansion in US manufacturing provided underlying support to the American currency.
RBOB: Dec: $2.5525/gal, down 3.45 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell during morning trading as the December contract took over the prompt futures spot.
NATURAL GAS: Dec: 3.521/MMBtu, down 6 cents
The front month on the NYMEX natural gas futures market slid nearly 2% through Friday morning, losing value as a result of the depressed demand outlook for much of the US through early November caused by above-average temperatures and returning nuclear power capacity.
ETHANE: lower at 24.75 cents/gal
Ethane spot prices were weaker as natural gas futures continued to decline.
AROMATICS: benzene spot prices wider at $4.00-4.15/gal
Prompt benzene spot prices were discussed at $4.00-4.15/gal FOB (free on board) early in the day, sources said. The morning range was wider compared with $4.06-4.10/gal FOB late on Thursday.
OLEFINS: Nov ethylene wider at 47.75-51.00 cents/lb, Nov PGP offered lower at 65 cents/lb
November ethylene took over as the front-month on Friday and moved to 47.75-51.00 cents/lb based on bids and offers, wider than the previous day at 49.00-50.50 cents/lb. November polymer-grade propylene (PGP) was offered at 65 cents/lb, down from 66 cents/lb the previous day.
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