07 February 2014 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday ?xml:namespace>
CRUDE: Mar WTI: $98.30/bbl, up 46 cents; Mar Brent: $107.79/bbl, up 60 cents
NYMEX WTI crude futures extended gains for the fourth consecutive session, tracking a rally in the stock market despite a disappointing jobs report showing a rise in payrolls that fell below estimates. A rally in gasoline futures and heating oil provided underlying support.
RBOB: Mar $2.7175/gal, up 3.45 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures continued to climb during morning trading despite a report showing a less-than-expected rise in US jobs in January. A gain in crude futures and a slight decline in the unemployment rate in the US boosted RBOB.
NATURAL GAS: Mar $4.914/MMBtu, down 1.7 cents
The front month on the NYMEX natural gas futures market slipped slightly, losing value on warmer weather forecasts for the second half of February, though high near-term demand and recent sharp inventory declines could offer upwards pricing support.
ETHANE: higher at 38.75 cents/gal
Ethane spot prices rose slightly on bids and offers, decoupling from weaker natural gas futures.
AROMATICS: benzene wider at $4.88-5.05/gal
Prompt benzene spot prices were discussed at $4.88-5.05/gal DDP (duty, delivered, paid) early in the day, sources said. The range was wider compared with $4.90-4.98/gal FOB (free on board) the previous session. February FOB benzene prices were not discussed early in the day.
OLEFINS: ethylene done higher at 53 cents/lb, RGP done higher at 59.5 cents/lb
US February ethylene rebounded on Friday, with a deal reported done at 53 cents/lb, up from the previous reported trade at 51 cents/lb on Thursday. US refinery-grade propylene (RGP) was done higher at 59.5 cents/lb compared with the previous reported trade at 59.0 cents/lb.
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