NOON SNAPSHOT - Americas Markets Summary

18 August 2014 18:00 Source:ICIS News

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

CRUDE: Sep WTI: $96.18/bbl, down $1.17; Oct Brent: $101.45/bbl, down $2.08
NYMEX WTI crude futures lost ground on Monday, as ongoing strife in Ukraine and Iraq seemed less likely to cause supply disruptions. Also, additional oil output from Libya was bolstering already strong global inventories.

RBOB: Sep $2.6469/gal, down 5.17 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell in early trading, following a pullback in crude futures, as tensions in the Middle East and the conflict in Ukraine ease.

NATURAL GAS Sep $3.796/MMBtu, up 2 cents/MMBtu 
The front month contract on the NYMEX natural gas futures market began the new trading week edging upwards on  improved near term demand fundamentals, as the latest weather forecasts for the second half of August indicate slightly warmer than previously expected weather conditions through the central and southern parts of the country. 

ETHANE: steady at 22.50 cents/gal
Ethane spot prices were steady in thin trading activity on Monday morning.

AROMATICS: benzene flat at $4.90-5.10/gal
Activity was thin early in the day for US benzene. As a result, prices were flat from $4.90-5.10/gal FOB (free on board) the previous session.

OLEFINS: ethylene tighter at 65.25-67.00 cents/lb, PGP tighter at 68.75-70.00 cents/lb
US August ethylene bid/offer levels tightened to start the week, moving to 65.25-67.00 cents/lb from 65.00-68.00 cents/lb. US August polymer-grade propylene (PGP) bid/offer levels were heard at 68.75-70.00 cents/lb, wider than the previous reported trade at 69.50 cents/lb.

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By Staff Reporter