NOON SNAPSHOT - Americas Markets Summary

14 February 2014 18:00 Source:ICIS News

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

CRUDE: Mar WTI: $100.02/bbl, down 33 cents; Apr Brent: $108.43/bbl, down 9 cents
NYMEX WTI crude futures drifted lower on pre-long weekend selling in response to released data showing a drop in retail sales and in manufacturing output. WTI traded within a narrow range in search of a comfort level.

RBOB: Mar $2.7769/gal, down 0.03 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were little changed by midday in a quiet market. The downward action came on weaker WTI crude futures.

NATURAL GAS: Mar $5.288/MMBtu, up 6.5 cents
The front month contract extended the previous day’s gains, rising on bullish sentiment related to falling inventory levels and colder weather forecasts for late February.

ETHANE: higher at 39.00 cents/gal
Ethane spot prices continued to gain strength as natural gas futures rose.

AROMATICS: styrene tighter at 75.00-75.50 cents/lb
US styrene spot prices were discussed at a tighter range compared with 75.00-76.00 cents/lb FOB (free on board) a week earlier.

OLEFINS: ethylene steady at 50-52 cents/lb, PGP steady at 68.25-71.00 cents/lb
US February ethylene bid/offer levels were unchanged at 50.0-52.0 cents/lb, as inventories remain high and demand soft. US polymer-grade propylene (PGP) bid/offer levels were unchanged at 68.25-71.00 cents/lb.

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By Staff Reporter