EVENING SNAPSHOT - Americas Markets Summary

07 August 2008 23:09  [Source: ICIS news]

HOUSTON (ICIS news)--Here is Thursday’s end-of-day Americas oil and chemical market summary from ICIS pricing.

CRUDE: WTI $119.96/bbl (down 6 cents), BRENT $117.86/bbl (up 86 cents)
US crude futures bounced around either side of the $120.02/bbl floor settlement in after-hours electronic Globex trading in an attempt to make a decision with regards to near-term direction. It was a volatile floor session, with West Texas Intermediate (WTI) rallying to $121.78/bbl and selling down to $117.91/bbl before rebounding sharply.  
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $8.571/m Btu, down 20.2 cents
Natural gas futures prices on the NYMEX moved lower as a modest build in domestic inventories and milder weather forecasts pushed the September contract lower.

RBOB: $3.0027/gal, up 5.34 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) ended higher in line with the increase seen in crude prices. The jump in gasoline comes one day after the US government reported a build in domestic stockpiles for last week

BENZENE: August benzene spot levels were at $4.24-4.32/gal FOB (free on board) HTC (Houston-Texas City), traders said. The range was wider compared with $4.24-4.26/gal FOB HTC on Wednesday afternoon.

ETHYLENE: August ethylene spot prices were 1 cent lower from a day earlier at 49-50 cents/lb.

PROPYLENE: Spot refinery grade propylene (RGP) prices were slightly up from a day earlier at 70.75-71.25 cents/lb.

For more pricing intelligence please visit www.icispricing.com.

By: Staff Reporter
+44 20 8652 3214

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