NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $94.21/bbl, down 93 cents; Dec Brent: $106.30/bbl, down 10 cents
NYMEX WTI crude futures grinded lower in early trading, as market players expect supply data this week to show a build in inventories.

RBOB: Dec $2.6023/gal, up 0.58 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during morning hours but lost some of their gains by midday. Expectations of lower gasoline inventories in this week’s US Energy Information Administration (EIA) report gave upward support.

NATURAL GAS: Dec $3.648/MMBtu, up 7.4 cents
The December front month surged upwards through Tuesday morning, boosted by demand fundamentals as temperatures across the eastern half of the country plummet, firing expectations for strong near-term heating demand.

ETHANE: higher at 24.88 cents/gal
Ethane spot prices were higher in early trading, tracking stronger natural gas prices.

AROMATICS: benzene up at $4.09-4.14/gal
Prompt US benzene spot prices were discussed at $4.09-4.14/gal FOB (free on board) early in the day, sources said. The morning range was up from $4.05-4.12/gal FOB the previous session.

OLEFINS: ethylene tighter at 51.00-52.25 cents/lb, PGP wider at 63.25-65.25 cents/lb
US November ethylene bid/offer levels tightened to 51.00-52.25 cents/lb on Tuesday compared with 50.00-52.75 cents/lb to close the previous day. US November polymer-grade propylene (PGP) bid/offer levels widened to 63.25-65.25 cents/lb compared with two trades the previous day at 64.75 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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