NOON SNAPSHOT - Americas Markets Summary

15 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: $93.71/bbl, down 5 cents; Jan Brent: $107.80/bbl, down 48 cents
NYMEX WTI crude futures fell slightly on news of a possible nuclear agreement with Iran, which would reduce sanctions against that country. However, losses were muted on positive economic news about a boost in US manufacturing output.

RBOB: Dec: $2.6510/gal, down 3.27 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures declined in early trading on sentiment that Thursday’s rally had been overdone.

NATURAL GAS: Dec: $3.648/MMBtu, up 4.3 cents
The December front month extended Thursday's gains into the final trading session of the week. The deceleration of inventory growth as reported by the US Energy Information Administration (EIA) in recent storage reports, combined with a sustained period of below-average temperatures across much of the eastern half of the country, has fuelled expectations that the first withdrawal of the 2013-14 winter heating season is imminent.

ETHANE: steady at 25.00 cents/gal
Ethane spot prices were steady on Friday morning on bids and offers in the market.

AROMATICS: benzene flat at $4.12-4.23/gal
Prompt benzene spot prices were flat from the previous session early in the day, sources said. Activity was thin, with no fresh bid/offers for November heard.

OLEFINS: ethylene steady at 56 cents/lb, PGP offered steady at 65.5 cents/lb
US ethylene for November was steady at 56.0 cents/lb, based on the most recent reported trade. 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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