NOON SNAPSHOT - Americas Markets Summary

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

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

CRUDE: February WTI: $40.13/bbl, down $1.57; February Brent: $43.65/bbl, down $1.02
Crude prices fell sharply, extending recent losses, in response to a gloomy US unemployment report. The dollar strengthened and the stock market lost ground. WTI (West Texas Intermediate) bottomed out at $39.38/bbl before rebounding.

NATURAL GAS: $5.45/MMBtu, down 13.3 cents
Natural gas prices dropped alongside falling crude oil futures in early trading.

RBOB: $1.0804/gal, down 0.78 cents
Reformulated blendstock for oxygenate blending (RBOB) futures prices inched lower as receding crude prices led the downturn.

BENZENE: Benzene barges on the US Gulf were talked in the high 80s to mid 90s cents/gal following a January deal at 90 cents/gal FOB (free on board) heard late Thursday.

ETHYLENE: US ethylene for January was offered at 24.75 cents/lb with no bids. Ethylene for January last traded on 7 January at 24.50 cents/lb.

PROPYLENE: No refinery-grade propylene (RGP) spot activity was heard. RGP for January last traded at 14.50 and 15.00 cents/lb on 5 January.

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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