NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $94.42/bbl, up 22 cents; Dec Brent: $104.52/bbl, up $1.06
NYMEX WTI crude futures rose on pre-weekend short covering, tracking a rally in the stock market in response to a strong jobs report. WTI topped out at $94.71/bbl before retreating.

RBOB: Dec: $2.5324/gal, up 2.93 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher midday after reports that the US economy added 204,000 jobs in October. Positive jobs data means demand for commodities, such as retail gasoline, could increase.

NATURAL GAS: Dec: $3.576/MMBtu, up 5.7 cents/MMBtu
Natural gas futures on the NYMEX were posting slight gains as heating demand expectations have increased for the northern half of the US. However, this could be offset by the continuation of injections to pile into inventories into the third week of November, extending the storage season.

ETHANE: lower at 24.00 cents/gal
Ethane spot prices were slightly lower in thin activity.

AROMATICS: benzene flat at $3.98-4.03/gal
Prompt benzene spot prices were flat early in the day, sources said. Activity was thin, with no bid/offers or trades heard.

OLEFINS: ethylene steady at 52.25 cents/lb, PGP done higher at 64.75 cents/lb
US November ethylene was steady at 52.25 cents/lb on Friday, based on the most recent reported trade. US November polymer-grade propylene (PGP) traded higher at 64.750 cents/lb, up from the previous reported trade at 64.375 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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