EVENING SNAPSHOT - Americas Markets Summary

05 December 2008 00:15  [Source: ICIS news]

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

CRUDE: WTI $43.75/bbl, up 8 cents; BRENT $42.28/bbl, down $3.16
US crude futures rose in after-hours electronic Globex trading after plunging during the normal floor session. Length liquidation across various commodities drove January West Texas Intermediate (WTI) down to a near four-year low of $43.36/bbl before rebounding slightly.  
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.017/MMBtu, down 33 cents
Despite a 64-bcf draw in domestic stockpiles, natural gas futures prices plummeted on the back of lower energy prices across the board. The US Energy Information Administration (EIA) said that prices have weakened due to heightened domestic natural gas production, falling crude oil prices and the effects of the weakening economy on industrial demand for natural gas.

RBOB: $0.9695/gal, down 7.2 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices plunged to four-year lows, sinking below $1/gal on continued signs of consumption declines.

BENZENE: US benzene spot barges on the US Gulf were talked lower on the back of weakening energy values and low demand. Prices were notionally ranged at 74-80 cents/gal FOB (free on board), down from 80-86 cents/gal a day earlier.

ETHYLENE: No ethylene deals were heard on Thursday. Ethylene last traded at 16.50-17.00 cents/lb on 2 December.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard on Thursday. RGP last traded at 12.25 cents/lb on 2 December.

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

By: Staff Reporter
+44 20 8652 3214

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