NOON SNAPSHOT - Americas Markets Summary

07 August 2008 18:00  [Source: ICIS news]

HOUSTON (ICIS news)--Here is Thursday’s mid-day Americas oil and chemical market summary from ICIS pricing.

CRUDE: WTI: $120.06, up $1.48; BRENT: $118.14, up $1.14
Crude prices rose sharply in response to a gasoline-led rally and support from a Turkish pipeline explosion, which carries Caspian Azeri crude. West Texas Intermediate (WTI) topped out at $121.78/bbl before retreating.

NATURAL GAS: $8.841/mBtu, up 6.8 cents
NYMEX natural gas futures followed the rest of the energy complex up in early trading. The increase came despite a 56 bcf increase to 2,517 bcf in domestic stockpiles last week, according to government data.

RBOB: $2.9945/gal, up 4.52 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures were up with crude early in the day.  

BENZENE: August benzene spot levels were at $4.24-4.32/gal FOB (free on board) HTC (Houston-Texas City), traders said. The range was wider compared with $4.24-4.26/gal FOB HTC on Wednesday afternoon.

ETHYLENE: August ethylene spot deals were heard at 49 and 50 cents/lb late on Wednesday.

PROPYLENE: An August refinery grade propylene (RGP) trade was said to be done on Wednesday at 71 cents/lb, which would be slightly higher than the previous deal at 70.75 cents/lb.

For more pricing intelligence please visit www.icispricing.com.

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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