NOON SNAPSHOT - Americas Markets Summary

04 December 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: $45.75, down $1.04; BRENT: $44.26, down $1.18
Crude prices dipped towards four-year lows in response to recession worries and bearish natural gas statistics. West Texas Intermediate (WTI) bottomed out at $45.30/bbl before recovering some of the lost ground.

NATURAL GAS: $6.356/MMBtu, up 0.9 cent
Natural gas futures prices inched up in early trading following a 64-bcf draw in domestic inventories.

RBOB: $1.0267/gal, down 1.48 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices moved down as crude prices showed a slight decline

BENZENE: High imports and low demand combined with lower energy values drove benzene price ideas to a range of 74-80 cents/gal, compared with a bids/offers at 80-86 cents/gal a day earlier.

ETHYLENE: US ethylene for December was bid at 14 cents/lb on Thursday with an offer at 16.75 cents/lb. Ethylene for December last traded at 16.50-17.00 cents/lb on Tuesday.

PROPYLENE: US refinery-grade propylene (RGP) for December was bid at 8 cents/lb on Thursday with an offer at 12.25 cents/lb. RGP last traded at 12.25 cents/lb on Tuesday.

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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