Feedstock, Olefins and Aromatics
EVENING SNAPSHOT - Americas Markets Summary
ICIS News : 21-Jun-13 23:00
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $93.69/bbl, down $1.45; Aug Brent: $100.91/bbl, down $1.24
NYMEX WTI crude futures fell for the third consecutive session on pre-weekend length liquidation in response to a stronger dollar. Concerns over the eventual end of the US Federal Reserve’s bond buying programme and weaker demand from China also pressured the energy complex. Market participants remain concerned that the Syrian civil war could disrupt Middle Eastern supplies.
RBOB: Jul: $2.7617/gal, down 2.55 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures for the July prompt-month contract on the NYMEX fell following a drop in crude.
NATURAL GAS: Jul: $3.771/MMBtu, down 10.6 cents
The July contract fell over 2% for a second consecutive session, as the bearish mood which gripped the market Thursday following the Energy Information Administration's weekly gas storage report gained further momentum thanks to lower temperature predictions and ongoing concerns over the stock market rout seen earlier this week.
ETHANE: steady at 24.00 cents/gal
Ethane spot prices held steady, even as natural gas and other energy futures weakened. Sources said demand has started to come back with the restart of several crackers.
AROMATICS: benzene tighter at $4.24-4.32/gal
Prompt benzene spot prices were discussed at $4.24-4.32/gal FOB (free on board) in the afternoon, sources said. The range was tighter from $4.26-4.30/gal FOB earlier in the day.
OLEFINS: ethylene offered lower at 62-63 cents/lb, PGP bid lower at 59-61 cents/lb
US June ethylene offers fell to 62.00-63.00 cents/lb from 63.00-63.25 cents/lb as fresh bids remained scarce and several crackers began the restart process. Bids for US polymer-grade propylene (PPG) fell to 59-61 cents/lb on news of the cracker restarts.
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By Staff Reporter
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