EVENING SNAPSHOT - Americas Markets Summary

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

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

CRUDE: WTI $89.83/bbl, down 23 cents; BRENT $84.66/bbl, up 98 cents

US crude futures slipped a few cents in after hours electronic Globex trading following an extremely volatile floor session that saw prices spike to $93.02/bbl and plunge to $87.87/bbl in response to economic and geopolitical forces.  

*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.768/MMBtu, down 6.7 cents

Natural gas prices slipped on NYMEX, following forecasts calling for mild weather.

RBOB: $2.0628/gal, down 0.37 cents

Reformulated blendstock for oxygenate blending (RBOB) inched down despite gains in crude oil futures. Revised forecasts from the Energy Information Administration called for deeper declines in US motor gasoline consumption.

BENZENE: US October benzene bid/offers dropped to $3.63-3.65/gal DDP HTC (Houston-Texas City) as prompt tightness disappeared from the market. FOB basis cargoes had a 2-cent premium, sources said.

ETHYLENE: US ethylene values fell but there were no trades. Offers were lower than Monday, at 55 cents/lb for Equistar and 49 cents/lb for Williams delivery. Ethylene was last heard traded on 3 October at 56.00 cents/lb on the Equistar system.

PROPYLENE: Refinery-grade propylene (RGP) price ideas fell. A bid was heard at 40 cents/lb, with an offer at 47 cents/lb - down from an offer on Monday at 48 cents/lb. RGP was last heard traded on 3 October at 44 cents/lb for a rail-delivery deal.

For more pricing intelligence please visit www.icispricing.com

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By: Staff Reporter
+44 20 8652 3214

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