05 December 2013 18:12 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday's midday Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $97.74/bbl, up 54 cents; Jan Brent: $111.58/bbl, down 30 cents
NYMEX WTI crude futures extended the uptrend in response to the release of upbeat economic data. The gains were kept in check by sentiment that a 5-day rally was becoming overdone. WTI topped out at $97.99/bbl before retreating.
RBOB: Jan $2.7201/gal, up by 0.09 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were practically unmoved from yesterday’s close, as the market was pressured by growing supplies.
NATURAL GAS: Jan: $4.074/MMBtu; up 11.4 cents
The January ’14 front month on the NYMEX surged through the $4.00/MMBtu mark through Thursday morning, boosted by a bullish weekly gas storage report from the Energy Information Administration which showed gas stocks tumbling over the week ending 29 November.
ETHANE: higher at 26.50 cents/gal
Ethane spot prices were higher, tracking strength in natural gas futures.
AROMATICS: benzene up at $4.67-4.78/gal
Prompt benzene spot prices were discussed higher early in the day, sources said. The range was up from $4.60-4.68/gal FOB (free on board) the previous afternoon.
OLEFINS: ethylene bid lower at 54 cents/lb, PGP higher at 69.5-72.0 cents/lb
US bid levels for December ethylene fell to 54.00 cents/lb compared with 56.25 cents/lb the previous day against no fresh offers. US December bid/offer levels for polymer-grade propylene (PGP) were heard higher than the previous reported trade at 68.0 cents/lb the previous week.
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