HOUSTON (ICIS)--Here is Friday's midday Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $102.96/bbl, down 23 cents; Sep Brent: $107.61/bbl, down 28 cents
NYMEX WTI crude futures turned lower on profit-taking by investors, even as geopolitical concerns persist regarding US sanctions against Russia and tensions in Libya and Iraq.
RBOB: Aug $2.8869/gal, up 0.52 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures traded higher during morning hours after Thursday’s near flat settlement
NATURAL GAS: Aug: $3.953/MMBtu, down 0.1 cent
The front month contract traded around the prior day's price through the morning, as traders offset disappointing storage data with an improving near term demand outlook.
ETHANE: lower at 23 cents/gal
Ethane spot prices declined after natural gas futures fell below the $4/MMBtu mark on Thursday.
OLEFINS: ethylene flat at 59.5-65.0 cents/lb, PGP offered flat at 69 cents/lb
US July ethylene bid/offer levels were flat to start the day at 59.5-65.0 cents/lb, with buyers retreating from the market in the face of high prices. US July polymer-grade propylene (PGP) offer levels were steady at 69 cents/lb against no fresh bids.
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