NOON SNAPSHOT - Americas Markets Summary

24 April 2014 18:00  [Source: ICIS news]

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

CRUDE: Jun WTI: $102.02/bbl, up 58 cents; Jun Brent: $110.13/bbl, up $1.02
NYMEX WTI crude futures worked higher on bargain hunting from two consecutive down days. Brent led the way up in response to rising tensions in Ukraine. WTI topped out at $102.35/bbl before retreating.

RBOB: May $3.0998/gal, up 0.63 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rebounded from Wednesday’s lower settlement, mostly on stronger crude futures.

NATURAL GAS: May $4.702/MMBtu, down 2.8 cents
The front month contract on the NYMEX natural gas futures market fell following a bearish weekly gas storage report from the Energy Information Administration, which showed an above average injection into US stocks over the week ending 18 April.

ETHANE: higher at 30.13 cents/gal
Ethane spot prices were slightly higher in early trading on a confirmed deal. Sources said the bearish natural gas inventory report is pushing prices lower.

AROMATICS: benzene up at $4.45-4.58/gal
US benzene spot prices were discussed within a higher range early in the day, sources said. The morning range was up from $4.40-4.48/gal the previous afternoon as crude futures were stronger.

OLEFINS: ethylene wider at 55.25-56.25 cents/lb, PGP done flat at 68.5 cents/lb
US April ethylene was assessed wider at 55.25-56.25 cents/lb, reflecting the range of deals done the previous day as no fresh bids or offers were heard in the morning. US April polymer-grade propylene (PGP) traded twice at 68.5 cents/lb, flat with the previous reported trade done on 23 April.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



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