EVENING SNAPSHOT - Americas Markets Summary

03 December 2008 23:25  [Source: ICIS news]

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

CRUDE: WTI $47.00/bbl, up 21 cents; BRENT $45.44/bbl, no change
US crude futures attracted profit taking and rose in after-hours electronic Globex trading after settling in negative territory for the fourth consecutive floor session. The market received some support from the weekly statistics from the Energy Information Administration (EIA), which showed a contrary to forecast drawdown in crude and refined products, but a rally peaked at $48.10/bbl before attracting selling.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.347/MMBtu, down 7.7 cents
Natural gas futures prices dipped on overall weaker energy prices. Industry sources expect a 69 bcf draw in domestic natural gas inventories when the EIA releases its storage report on Thursday.

RBOB: $1.0415, down 1.68 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) fell despite an unexpected drop in gasoline stockpiles. The EIA said that gasoline stocks were at 198.9m bbl last week, down 1.6m from the previous week.

BENZENE: US gulf coast barges were talked lower at 80-86 cents/lb FOB (free on board) after deals for December were heard at 83 and 86 cents/gal DDP (delivered, duty paid) Houston-Texas City (HTC).

ETHYLENE: The US ethylene market was quiet on Wednesday. Ethylene traded at 16.50-17.00 cents/lb on Tuesday.

PROPYLENE: No refinery-grade propylene (RGP) deals heard on Wednesday. RGP traded at 12.25 cents/lb on Tuesday, up from 12 cents/lb on Monday.

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

By: Staff Reporter
+44 20 8652 3214

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