NOON SNAPSHOT - Americas Markets Summary

31 December 2013 18:00  [Source: ICIS news]

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

CRUDE: Feb WTI: $98.46/bbl, down 83 cents; Feb Brent: $110.64/bbl, down 57 cents
NYMEX WTI crude futures traded lower in a thinly traded pre-holiday session on sentiment that the surge above $100/bbl had peaked temporarily, and the market is now drifting lower in search of a comfort level. ICE Brent continued to slide on improving crude exports from Libya.

RBOB: Jan $2.7860/gal, down 0.17 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded only slightly lower by midday in a quiet market ahead of the New Year’s holiday. A drop in crude futures also kept RBOB from making gains.

NATURAL GAS: Feb $4.314MMBtu, down 11.3 cents
NYMEX natural gas futures tumbled through the morning, as low trading volumes and milder longer-term weather forecasts for the middle of January fired bearish sentiment in the last trading session of the year.

ETHANE: lower at 27.00 cents/gal
Ethane spot prices fell on bids and offers early on Tuesday. Trading activity was slow ahead of the New Year's holiday.

AROMATICS: benzene flat at $4.78-4.91/gal
US benzene spot prices were flat at $4.78-4.91/gal FOB (free on board) from Monday evening, as traders await the January contract settlement.

OLEFINS: January ethylene done lower at 58.75 cents/lb, January PGP bid flat 72.5 cents/lb
US January ethylene traded at 58.75 cents/lb on Tuesday, down from the previous reported trade at 59.00 cents/lb on 19 December. US January polymer-grade propylene (PGP) bid levels were steady at 72.5 cents/lb against no fresh offers.

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By: Staff Reporter
+44 20 8652 3214

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