EVENING SNAPSHOT - Americas Markets Summary

08 October 2008 23:16  [Source: ICIS news]

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

CRUDE: WTI $88.54/bbl (down 41 cents), BRENT $84.36/bbl (down 30 cents)
US crude futures bounced around in after-hours electronic Globex trading, following an extremely volatile floor session with prices see-sawing from $86.05/bbl to $90.99/bbl in response to market funds moving in and out. The weekly statistics from the Energy Information Administration (EIA) revealed a much greater than forecast build in crude and gasoline inventories.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.742/MMBtu, down 2.6 cents
Natural gas futures prices moved lower, following the trend in crude oil.

RBOB: $2.0298/gal, down 3.3 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) prices moved lower after the US government posted a 7.2m bbl build in domestic stockpiles.

BENZENE: US October benzene spot prices were notionally lower at $3.39-3.47/gal FOB (free on board) USG (US Gulf). November cargoes were talked at $3.22-3.30/gal DDP (delivered, duty paid) HTC (Houston-Texas City). Traders saw a lack of liquidity this week as buyers hesitated to enter a falling market.

ETHYLENE: US ethylene for October traded at 42 cents/lb for Williams delivery. That was down from a deal on 2 October done at 51.75 cents/lb, also for Williams delivery.

PROPYLENE: Refinery-grade propylene (RGP) for October was offered at 44 cents/lb, down from an offer at 47 cents/lb on Tuesday, but no deals were heard. October RGP for pipeline delivery was last heard traded on 2 October at 50.25 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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