NOON SNAPSHOT - Americas Markets Summary

25 November 2008 18:00  [Source: ICIS news]

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

CRUDE: January WTI: $51.47, down $3.03; January Brent: $51.44, down $2.49
Crude prices gave back a good portion of Monday’s gains as the euphoria over the government’s bank bail-out plan eroded and sentiment that the rally had been overdone. WTI (West Texas Intermediate) bottomed out at $50.60/bbl before rebounding.

NATURAL GAS: $6.368/MMBtu, down 45.2 cents
Natural gas futures prices plunged in early trading on sliding crude oil prices and ample inventory levels.

RBOB: $1.0796/gal, down 6.29 cents
Reformulated blendstock for oxygenate blending (RBOB) futures prices drifted lower alongside falling crude oil prices.

BENZENE: Spot benzene was notionally unchanged at $1.02-1.10/gal FOB (free on board) USG (US Gulf) in what was a largely inactive market ahead of US holidays.

ETHYLENE: US ethylene for December was offered at 19 cents/lb with no bids. December ethylene traded on Friday at 18.25 and 18.75 cents/lb.

PROPYLENE: Refinery-grade propylene (RGP) for December was offered at 16 cents/lb with a bid at 12 cents/lb. RGP for December last traded on Friday at 14.50 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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