NOON SNAPSHOT - Americas Markets Summary

14 August 2014 18:00 Source:ICIS News

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

CRUDE: Sep WTI: $96.07/bbl, down $1.52; Sep Brent: $102.23/bbl, down $2.05
NYMEX WTI crude futures fell sharply, driven by aggressive selling on the Brent contract, which goes off the board at the end of the session, and on sentiment that crude oil supplies are adequate. Reports that shares of an exchange-traded-fund (ETF) had fallen sharply may have contributed to the market’s weakness.

RBOB: Sep $2.7050/gal, down 4.94 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures dropped during morning trading after reports that US jobless benefits claims rose by more than expected, reaching a six-month high.

NATURAL GAS:  Sep $3.930/MMBtu, up 9.9 cents/MMBtu 
The front month contract on the NYMEX natural gas futures market bounced back from Wednesday’s decline on warmer near-term weather forecasts and a lower than expected injection into US storage facilities over the week ended 8 August. 

ETHANE: steady at 21.75 cents/gal
Ethane spot prices held steady in thin trade on Thursday morning.

AROMATICS: mixed xylenes flat at $3.69-3.71/gal, toluene flat at $3.69-3.71/gal
Activity was thin today for US aromatics. There were no fresh trades, leaving mixed xylenes (MX) and toluene prices flat from Wednesday.

OLEFINS: ethylene wider at 62-67 cents/lb, PGP offered flat at 70 cents/lb
US August ethylene bid/offer levels widened to 62.00-67.00 cents/lb from 63.00-66.25 cents/lb the previous day. US August polymer-grade propylene (PGP) was offered flat at 70 cents/lb against fresh bids at 65 cents/lb.

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By Staff Reporter