NOON SNAPSHOT - Americas Markets Summary

04 November 2013 18:00  [Source: ICIS news]

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

CRUDE: Dec WTI: $94.65/bbl, up 4 cents; Dec Brent: $105.95/bbl, up 4 cents
NYMEX WTI crude futures drifted higher following four consecutive negative settlements and in response to the euro rising against the dollar. The overall market’s bias, however, remained to the downside. WTI topped out at $95.11/bbl before retreating.

RBOB: Dec $2.5352/gal, down 1.02 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded slightly lower during morning hours despite gains made in crude futures.

NATURAL GAS: Dec: 3.431/MMBtu, down 8.2 cents
The front month on the NYMEX natural gas futures market extended its recent losing streak into a sixth straight session, sliding by another 2% on a bearish near-term outlook for heating demand, with above-average temperatures expected to continue across much of the lower 48 states through the next few weeks.

ETHANE: lower at 23.63 cents/gal
Ethane spot prices were lower on bids and offers in the market. Weak natural gas futures put downward pressure on spot ethane prices.

AROMATICS: benzene down at $4.00-4.10/gal
Prompt benzene spot prices were discussed slightly lower to start the week, trade sources said early in the day. The morning range was down from $4.05-4.11/gal FOB (free on board) the previous session.

OLEFINS: ethylene bid higher at 48 cents/lb, PGP offered steady at 65 cents/lb
US November ethylene bid levels moved up to 48.00 cents/lb from 47.75 cents/lb at the close of the previous week. US November polymer-grade propylene (PGP) offer levels held steady at 65 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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