08 April 2014 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday's midday ?xml:namespace>
CRUDE: May WTI: $101.47/bbl, up $1.03; May Brent: $106.46/bbl, up 64 cents
NYMEX WTI crude futures recouped Monday’s losses in response to renewed tensions in Ukraine and expectations that the weekly supply statistics will reveal another crude drawdown at the Cushing, Oklahoma NYMEX delivery hub. Expectations that gasoline and distillate inventories will also decline provided underlying support.
RBOB: May $2.9435/gal, up 1.75 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during morning hours on an expected decline in Wednesday’s gasoline inventory report.
NATURAL GAS: May $4.466/MMBtu, down 1 cent
Henry Hub futures were trading just below flat by midday, as weather forecasts were largely unchanged from the previous day. Traders are expecting declines in heating demand, while a cushioned supply of record natural gas production hangs in balance to depress prices further.
ETHANE: higher at 28.88 cents/gal
Ethane spot prices were higher in thin trading Tuesday morning.
AROMATICS: benzene bid up at $4.78/gal
US April benzene spot prices were discussed within a higher range early in the day, as bids firmed, according to trade sources. The morning bid yielded no offers and was on the high end of the previous day’s $4.70-4.78/gal FOB (free on board) range.
OLEFINS: ethylene tighter at 51.5-52.5 cents/lb, PGP lower at 66-69 cents/lb
US April ethylene bid/offer levels tightened to 51.50-52.50 cents/lb from 51.25-52.75 cents/lb the previous day as supply remains long. US April polymer-grade propylene (PGP) bid/offer levels fell to 66.00-69.00 cents/lb from 67.00-69.75 cents/lb the previous day on weaker feedstock costs.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections