NOON SNAPSHOT - Americas Markets Summary

14 July 2014 18:00 Source:ICIS News

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

CRUDE: Aug WTI: $100.82/bbl, down $0.01; Aug Brent: $106.85/bbl, up $0.19
NYMEX WTI crude futures were down slightly on sentiment that supply remains adequate despite ongoing geopolitical disruptions. However, losses were limited on news of a rally in the US stock market.

RBOB: Aug $2.9229/gal, up 1.44 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures began to rebound during morning trading after losing more than 11 cents/gal during last week’s sessions.

NATURAL GAS: Aug $4.121/MMBtu, down 2.5 cents
The August contract began the new trading week in negative fashion, sliding through Monday morning after an initially bullish start, as traders pointed to cooler weather forecasts as evidence of slow near-term demand.

ETHANE: stable at 25.63 cents/gal
Ethane spot prices held steady from Friday’s stronger trades, but demand remains weak as cracker outages are ongoing.

AROMATICS: benzene lower at $4.90-5.00/gal
July benzene bid-and-offer levels fell to $4.90-5.00/gal early in the day, compared with $4.98-5.08/gal during the previous session.

OLEFINS: ethylene wider at 63-64 cents/lb, PGP wider at 66.25-68.00 cents/lb
US July ethylene bid/offer levels started the week at 63-64 cents/lb, wider than two trades done on 11 July at 63 cents/lb. US July polymer-grade propylene (PGP) bid/offer levels widened to 66.25-68.00 cents/lb from 66.00-67.50 cents/lb seen to close the previous week.

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By Staff Reporter