09 December 2008 23:32 [Source: ICIS news]
HOUSTON (ICIS news)--Here is Tuesday’s end-of-day Americas oil and chemical market summary from ICIS pricing.
CRUDE: WTI $42.46/bbl (up 39 cents), BRENT $41.53/bbl (down $1.89)
US crude futures rose in after-hours electronic Globex trading after posting substantial losses during the normal floor session. A projection by the Energy Information Administration (EIA) showed that global oil demand would contract for two consecutive years, while a sell-off in the stock market triggered the length liquidation. West Texas Intermediate (WTI) bottomed out at $41.83/bbl before rebounding on profit taking.
*Brent reflects the value of the ICE settlement on the day.
NATURAL GAS: $5.579m Btu, up 1.3 cents
Natural gas prices for January were slightly up on colder weather forecasts.
RBOB: $0.9364/gal, down 2.54 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) gasoline dropped slightly on the NYMEX, reflecting weak demand in energy and aromatics markets.
BENZENE: The US benzene spot market was quiet with prices at 72-77 cents/lb.
ETHYLENE: No ethylene deals were heard on Tuesday. Ethylene for December traded at 15.25 cents/lb and 15.50 cents/lb on Monday.
PROPYLENE: The US refinery-grade propylene (RGP) market was quiet. RGP last traded at 12.25 cents/lb on Thursday.For more pricing intelligence please visit www.icispricing.com.
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