EVENING SNAPSHOT - Americas Markets Summary

21 November 2008 23:00  [Source: ICIS news]

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

CRUDE: WTI $50.50/bbl, up 57 cents; BRENT $49.19/bbl, up $1.11
US crude futures rose in after-hours electronic Globex trading, extending the gains posted during the normal floor session. The energy complex has been tracking the stock market and a late surge in equities supported crude prices. After testing 3½-year lows at $48.25/bbl, January West Texas Intermediate (WTI) attracted an aggressive round of short covering ahead of the weekend.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.480/MMBtu, up 16.4 cents
Natural gas futures prices jumped as forecasts showed a wave of colder weather hitting the northern US.

RBOB: $1.0643/gal, up 5.73 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices were boosted by a late surge in buying interest following the rally in the stock markets.

BENZENE: Benzene bids were rumoured below $1/gal to finish the week, while offers were heard at $1.08/gal FOB (free on board) USG (US Gulf). That compares with $1.00-1.10/gal a day earlier.

ETHYLENE: The US ethylene market remained quiet on Friday. No deals were heard. Ethylene for November last traded on 18 November at 19.50 cents/lb.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard on Friday. RGP for December traded on Thursday at 14.50 cents/lb. November material was last heard traded at 16.50 cents/lb on 18 November.

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

By: Staff Reporter
+44 20 8652 3214

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

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