NOON SNAPSHOT - Americas Markets Summary

02 May 2014 18:00 Source:ICIS News

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

CRUDE: Jun WTI: $99.88/bbl, up 46 cents; Jun Brent: $108.74/bbl, up 98 cents
NYMEX WTI crude futures rose on pre-weekend buying in response to concerns regarding the escalation of Russia’s intervention in Ukraine and to a strong jobs report signalling an expansion in US economic activity. WTI topped out at $100.14/bbl before retreating.

RBOB: Jun $2.9390/gal, down 0.02 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were relatively stable during morning hours despite an encouraging jobs report, which showed a drop in the US unemployment rate.

NATURAL GAS: Jun $4.696/MMBtu, down 2.3 cents
The front month contract edged lower on continuing bearish sentiment based on strong production levels and deflating near-term demand fundamentals with warm conditions predicted across most of the country though the first half of May.

ETHANE: lower at 28.88 cents/gal
Ethane spot prices declined early on Thursday. Sources said production has been higher lately, while demand continues to lag because of turnaround season.

AROMATICS: benzene flat at $4.38-4.48/gal
Activity was thin for US benzene early in the day. Prices held flat from the previous afternoon at $4.38-4.48/gal as a result.

OLEFINS: ethylene higher at 56.0-58.5 cents/lb, PGP wider at 66.0-68.5 cents/lb
US May ethylene bid levels climbed to 56.0 cents/lb, compared with 55.0 cents/lb the previous day, while offers were heard at 58.5 cents/lb. US May polymer-grade propylene (PGP) bid/offer levels were heard at 66.000-68.500 cents/lb, wider than a trade the previous day at 67.625 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By Staff Reporter