NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $94.18/bbl, up $1.14; Dec Brent: $106.93/bbl, up $1.12
NYMEX WTI crude futures rose in early trading as support from Libyan supply outages outweighed concerns about the US Federal Reserve reducing its economic stimulus.

RBOB: Dec: $2.6403/gal, up by 5.39 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were higher in early trading on expectations that Thursday’s inventory report will show a decline in supplies. Analysts expect a draw of about 700,000 bbl.

NATURAL GAS: Dec: $3.602/MMBtu, down 1.5 cents
The December front month on the NYMEX natural gas futures market slid through Wednesday morning trading despite the strong demand outlook as traders weighed ongoing high production levels and the likelihood of another rise in inventories being reported by the Energy Information Administration (EIA) in its latest storage report due on Thursday.

ETHANE: steady at 24.75 cents/gal
Ethane spot prices were steady in early trading as demand from petrochemical plants remains steady.

AROMATICS: benzene higher at $4.14-4.20/gal FOB
US November benzene spot prices moved up to $4.14-4.20/gal FOB on Wednesday from $4.10-4.14/gal FOB at the close of the previous day.

OLEFINS: ethylene bid higher at 51.75 cents/lb, PGP offered at 66.25 cents/lb
US November ethylene bid levels moved up to 51.75 cents/lb, compared with 51.00 cents/lb the previous day, against no fresh offers. US polymer-grade propylene (PGP) was offered at 66.25 cents/lb, higher than the previous reported trade at 64.75 cents/lb.

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By: Staff Reporter
+44 20 8652 3214

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