EVENING SNAPSHOT - Americas Markets Summary

08 August 2008 23:17  [Source: ICIS news]

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

CRUDE: WTI $114.80/bbl (down 40 cents), BRENT $113.33/bbl (down $4.53)
US crude futures continued to slide in after-hours electronic Globex trading after plunging during the normal floor session. The market ignored various geopolitical issues and responded to the stronger dollar as well as economic worries. During electronic trading, West Texas Intermediate (WTI) bottomed out at $114.62/bbl before rebounding slightly.  
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $8.248/m Btu, down 32.3 cents
Natural gas prices for September settled down after mild summer temperatures dropped demand and increased domestic production boosted future supply outlook.

RBOB: $2.8874/gal, down 11.53 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) was down on the back of weaker crude levels, weak demand and a stronger dollar, according to trade sources.

BENZENE: August benzene spot prices were said to be at $4.24-4.27/gal FOB (free on board) HTC (Houston-Texas City). The range was tighter compared with $4.22-4.28/gal FOB HTC earlier in the day.

ETHYLENE: Spot ethylene traded for August at 45 cents/lb, down from previous August business at 49-50 cents/lb on Wednesday.

PROPYLENE: Spot refinery grade propylene (RGP) was heard traded at 68-69 cents/lb, down from business at 69.5-71.0 cents/lb on Wednesday.

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

By: Staff Reporter
+44 20 8652 3214

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