EVENING SNAPSHOT - Americas Markets Summary

05 December 2008 23:58  [Source: ICIS news]

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

CRUDE: WTI $41.57/bbl (up 76 cents), BRENT $39.74/bbl (down $2.54)
US crude futures rose in after hours electronic Globex trading after plunging towards 4-year lows during the normal floor session. A bearish jobs report initially pressured the stock market and triggered a round of selling across various commodities. WTI (West Texas Intermediate) bottomed out at $40.50/bbl before rebounding. The stock market recovered late in the session and posted strong gains, helping drive crude prices up on Globex.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $5.742/m Btu, down 27.5 cents
January natural gas prices dropped as energy markets reacted to deteriorating economic indicators, but were up from an intra-day, 15-month spot chart low.

RBOB: $0.9012/gal, down 6.83 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) followed the energy complex down.

BENZENE: Chronically weak demand and falling energy prices drove benzene bids/offers to 66-73 cents/gal FOB (free on board) USG (US Gulf).

ETHYLENE: US ethylene for December traded at 15.25 cents/lb on Friday, down from deals done at 16.50-17.00 cents/lb on Tuesday.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard on Friday. 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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