EVENING SNAPSHOT - Americas Markets Summary

04 August 2014 23:00 Source:ICIS News

HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Sep WTI: $98.29/bbl, up 41 cents; Sep Brent: $105.41/bbl, up 57 cents
NYMEX WTI crude futures finished up following five consecutive down sessions on a correction to oversold conditions. Geopolitical drama in various regions continued to provide underlying support.

RBOB: Sep $2.7249/gal, down 1.94 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures continued to decline despite a slight gain in crude futures.

NATURAL GAS: Sep $3.834/MMBtu, up 3.6 cents/MMBtu  
US natural gas futures on the NYMEX ticked up slightly higher on Monday, buoyed by an area of rising temperatures in the US west coast region. However, cooler than normal weather was in the forecast for much of the US this week, which is not expected to lend much pricing support.

ETHANE: lower at 22.38 cents/gal
Ethane spot prices fell as demand continues to be weak because of ongoing cracker outages.

AROMATICS: benzene trades down at $4.795/gal
August benzene traded at $4.795/gal DDP (delivered, duty paid) on Monday, sources said. The trade was below Friday’s range of $4.89-5.00/gal FOB (free on board).

OLEFINS: ethylene wider at 67.25-71.00 cents/lb; RGP bids steady at 56.5 cents/lb
US August ethylene bid/offer levels were heard on Monday at 67.25-71.00, wider compared with a reported trade at 69.25 cents/lb on Friday. US August refinery-grade propylene (RGP) bids remained steady on Monday at 56.5 cents/lb, compared with levels heard last week, against no fresh offers.

For more pricing intelligence please visit www.icispricing.com

By Staff Reporter