EVENING SNAPSHOT - Americas Markets Summary

06 January 2009 23:22  [Source: ICIS news]

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

CRUDE: WTI $48.48/bbl, down 10 cents; BRENT $50.53/bbl, up 91 cents
US crude futures slipped in after-hours electronic Globex trading, following an extremely volatile floor session which saw Brent and West Texas Intermediate (WTI) fall out of step. Geopolitical issues in the Middle East and a dispute between Russia and Ukraine over natural gas which affected deliveries into Europe supported the North Sea benchmark. WTI was pressured by weak economic data, and the upside was temporarily exhausted at $50.47/bbl. A round of selling drove the front month down to establish a low of $47.60/bbl before rebounding.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $5.983/MMBtu, down 8.9 cents
Natural gas futures prices inched down as short-term forecasts called for milder temperatures amid a cold spell in the northern US.

RBOB: $1.1892/gal, up 0.68 cent
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices closed out slightly over a half-cent higher from Monday’s settlement.

BENZENE: Benzene prices were steady on either side of 90 cents/gal on the US Gulf coast after deals were done at that level.

ETHYLENE: US ethylene bid/offers were heard at 20-24 cents/lb on Tuesday. US ethylene for January traded at 20.50 and 20.75 cents/lb on Monday, unchanged from deals done on 30 December.

PROPYLENE: Refinery-grade propylene (RGP) bid/offers were heard at 15-21 cents/lb on Tuesday. RGP for January traded at 14.50 and 15.00 cents/lb on Monday. RGP had last traded on 17 December at 13 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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