EVENING SNAPSHOT - Americas Markets Summary

12 August 2008 23:24  [Source: ICIS news]

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

CRUDE: WTI $113.26/bbl (up 25 cents), BRENT $111.15/bbl (down $1.52)
US crude futures rose in after-hours electronic Globex trading after finishing sharply lower during the normal floor session. The market continued to respond to the impact of an economic slowdown on global demand. At one point, it bounced after a rally in the US dollar stalled. West Texas Intermediate (WTI) rose to $115.95/bbl and plunged to $112.31/bbl before late buying erased a portion of the losses.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $8.330/m Btu, down 1.9 cents
Natural gas futures prices drifted lower despite fears of threatening tropical storm activity in the mid-Atlantic Ocean.

RBOB: $2.8432/gal, down 2.34 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices ended lower, following the trend from crude oil. Industry sources expect statistics to be released by the US Energy Information Administration (EIA) on Wednesday morning to show a drawdown in domestic gasoline stockpiles.

BENZENE: US benzene August spot prices were assessed at $4.12-4.26/gal FOB (free on board) HTC (Houston-Texas City), unchanged from the day before amid little business heard done.

ETHYLENE: Ethylene for August/September was offered at 46.00 cents/lb. No bids were heard. Spot ethylene for August last traded on 8 August at 45.00 cents/lb.

PROPYLENE: Refinery grade propylene (RGP) for August was offered at 65.50 cents/lb with no bids. RGP last traded on 8 August at 68.00 and 69.00 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly