NOON SNAPSHOT - Americas Markets Summary

04 April 2014 18:00 Source:ICIS News

HOUSTON (ICIS)--Here is Friday's midday Americas oil and chemical market summary from ICIS.

CRUDE: May WTI: $101.32/bbl, up $1.03; May Brent: $106.83/bbl, up 68 cents
NYMEX WTI crude futures rose on pre-weekend buying in response to upbeat US economic data showing strong growth in non-farm payrolls, suggesting that the economy continues to gain traction. The dollar fell against a basket of currencies. WTI topped out at $101.63/bbl before retreating.

RBOB: May $2.9342/gal, up 2.24 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures continued to make gains during morning trading after the US Department of Labor said that the economy added 192,000 jobs in March. Gains in crude futures also boosted RBOB.

NATURAL GAS: May $4.442/MMBtu, down 2.8 cents
The May contract edged downwards for the first time in three sessions, as the latest near-term weather forecasts indicating milder conditions over high-demand regions from next week onwards blunted bullish sentiment stemming from Thursday's weekly gas storage report by the US Energy Information Administration (EIA). 

ETHANE: steady at 28.75 cents/gal
Ethane spot prices were steady in early trading, even as buying interest was strengthening, sources said.

AROMATICS: benzene flat at $4.70-4.73/gal
Activity was thin in the US benzene market early in the day. As a result, spot prices were flat from the previous afternoon.

OLEFINS: ethylene bid flat at 51 cents/lb, RGP done lower at 59.5 cents/lb
US April ethylene bid levels were flat at 51 cents/lb, compared with the close of the previous day, against no fresh offers. US April refinery-grade propylene (RGP) traded at 59.5 cents/lb, down from the previous front-month trade at 61.5 cents/lb for March material done during the previous week.

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By Staff Reporter