NOON SNAPSHOT - Americas Markets Summary

20 December 2013 18:00 Source:ICIS News

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

CRUDE: Feb WTI: $99.14/bbl, up 10 cents; Feb Brent: $111.56/bbl, up $1.27
NYMEX WTI crude futures bounced around between positive and negative territory on the first day for the February contract as the spot month. A positive economic outlook and rising demand for refined products provided underlying support.

RBOB: Jan $2.7772/gal, up 3.71 cents
US reformulated blendstock for oxygen blending (RBOB) gasoline futures extended Thursday’s gains on the Commerce Department’s report of stronger-than-expected growth in the US economy in the third quarter.

NATURAL GAS: Jan $4.452, down $0.008/MMBtu
January front month futures for US natural gas were trending slightly lower following a 5% rally from the previous session after the US government reported a record-high withdrawal from inventories on cold temperatures. Higher heating demand is expected to continue given current weather forecasts. 

ETHANE: lower at 29 cents/gal
Ethane spot prices were lower during morning trading, tracking weakness in natural gas futures.

AROMATICS: benzene lower at $4.83-4.88/gal
December benzene spot prices were discussed within a lower range early in the day, sources said. The morning range was down from $4.90-4.95/gal FOB (free on board) the previous session.

OLEFINS: ethylene bid lower at 54 cents/lb, PGP steady at 71.0-74.5 cents/lb
US December ethylene was bid at 54.00 cents/lb, down from the previous day’s bid level of 57.75 cents/lb. US December polymer-grade propylene (PGP) bid/offer levels were steady at 71.0-74.5 cents/lb.

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By Al Greenwood