NOON SNAPSHOT - Americas Markets Summary

11 July 2014 18:00 Source:ICIS News

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

CRUDE: Aug WTI: $101.30/bbl, down $1.63; Aug Brent: $106.97/bbl, down $1.70
NYMEX WTI crude futures gave back Thursday’s gains and sold down sharply on pre-weekend length liquidation on sentiment that supplies are adequate as geopolitical disruptions of oil production and exports are easing. WTI bottomed out at $101.20/bbl before rebounding.

RBOB: Aug $2.9172/gal, down 4.04 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures reversed Thursday’s gains during morning trading as demand softened and crude futures fell.

NATURAL GAS: Aug $4.132/MMBtu, up 1.2 cents
The August contract rose through Friday morning, looking to close the week on a positive note after four straight losing sessions based on cooler near-term weather forecasts.

ETHANE: higher at 25.50 cents/gal
Ethane spot prices moved higher with natural gas futures.

AROMATICS: benzene flat at $4.98-5.08/gal
Activity was thin early in the day, sources said. As a result, benzene prices were flat from the previous session.

OLEFINS: ethylene done higher at 62 cents/lb, RGP steady at 56.5 cents/lb
US July ethylene traded at 62.000 cents/lb twice, its highest deal since a trade done at 62.375 cents/lb on 15 May 2013, tracking supply tightness. US July refinery-grade propylene (RGP) was steady at 56.5 cents/lb, based on a trade done late the previous day.

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By Staff Reporter