NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec: WTI: $93.77/bbl, down 11 cents; Dec: Brent: $108.67/bbl, up $1.55
NYMEX WTI crude futures were volatile in early trading, bouncing between positive and negative territory. Crude was much weaker prior to the release of the US Energy Information Administration’s (EIA) supply report, which showed a much greater-than-expected injection of supplies.

RBOB: Dec: $2.6956/gal, up 6.76 cents/gal
US reformulated blendstock for oxygen blending (RBOB) gasoline futures continued to climb during morning trading as the EIA report showed a draw in gasoline inventories.

NATURAL GAS: Dec: $3.545/MMBtu, down 2.1 cents
The December front month on the NYMEX natural gas futures market extended Wednesday’s slide on a combination of milder weather forecasts for the near term across high-demand regions and the EIA's latest weekly gas storage report, which showed inventories continuing to grow over the week ended 8 November.

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

AROMATICS: benzene stable at $4.15-4.20/gal
Prompt aromatics spot activity was thin early in the day, sources said. As a result, spot prices were stable from the previous session.

OLEFINS: ethylene wider at 53-56 cents/lb, PGP offered steady at 65.5 cents/lb
US ethylene bid/offer levels for November material widened to 53.0-56.0 cents/lb, compared with the most recent reported trade at 54.5 cents/lb done on the previous day. US November polymer-grade propylene (PGP) offer levels were steady at 65.5 cents/lb against no fresh bids.

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By: Staff Reporter
+44 20 8652 3214

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