NOON SNAPSHOT - Americas Markets Summary

06 January 2009 18:00  [Source: ICIS news]

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

CRUDE: February WTI: $48.89/bbl, up 8 cents; February Brent: $50.66/bbl, up $1.04
Crude prices were led up by a rally on Brent, which surged as a result of a dispute between Russia and Ukraine affecting natural gas deliveries to Europe. The conflict between Israel and Hamas continued to provide support. WTI (West Texas Intermediate) topped out at $50.47/bbl before retreating on profit taking.

NATURAL GAS: $6.063/MMBtu, down 0.9 cents
Natural gas futures prices inched down in early trading.

RBOB: $1.1942/gal, up 1.18 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) moved up alongside higher crude oil.

BENZENE: US Gulf benzene was talked between 85-95 cents/gal after deals were rumoured around 90 cents/gal. That compares with the previous day’s range of 83-96 cents/gal.

ETHYLENE: US ethylene bid/offers were wide apart on Tuesday at 20-24 cents/lb. US ethylene for January traded at 20.50 and 20.75 cents/lb on Monday, unchanged from deals done on 30 December.

PROPYLENE: Refinery-grade propylene (RGP) bid/offers were at 15-21 cents/lb on Tuesday. RGP for January traded at 14.50 and 15.00 cents/lb on Monday. RGP had last traded on 17 December at 13 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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