EVENING SNAPSHOT - Americas Markets Summary

01 December 2008 23:00  [Source: ICIS news]

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

CRUDE: WTI $49.24/bbl, down 4 cents; BRENT $47.97/bbl, down $5.52
US crude futures slipped in after-hours electronic Globex trading, extending the losses posted during the normal floor session. OPEC’s decision to delay a cut in exports and a worsening economic crisis triggered a round of length liquidation across the energy complex. West Texas Intermediate (WTI) bottomed out at $49.05/bbl before rebounding.  
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.604/MMbtu, down 27.4 cents
Natural gas prices futures prices traded down despite cold-weather forecasts set in for several key natural gas-consuming regions across the northern US.

RBOB: $1.1112/gal, down 9.84 cents
Reformulated blendstock for oxygenate blending (RBOB) futures prices continued to plummet alongside crude oil.

BENZENE: Weak demand and a lower crude oil price caused a slight narrowing of US benzene spot bids/offers to 90-100 cents/gal FOB (free on board) USG (US Gulf) compared with an upper limit of 105 cents/gal the week earlier.

ETHYLENE: The US ethylene market remained quiet on Monday. Ethylene for December last traded on 26 November at 17.00-17.25 cents/lb.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard on Monday. December RGP was offered on 26 November at 13.75 cents/lb. RGP last traded 21 November at 14.50 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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