EVENING SNAPSHOT - Americas Markets Summary

07 January 2009 22:44  [Source: ICIS news]

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

CRUDE: WTI $42.67/bbl, up 4 cents; BRENT $45.86/bbl, down $4.67
US crude futures bounced around in search of direction in after-hours electronic Globex trading after plunging during the normal floor session. A much greater-than-forecast build in crude and refined products inventories revealed by the Energy Information Administration (EIA) statistics overshadowed geopolitical concerns. WTI (West Texas Intermediate) sold down to $42.41/bbl before rebounding.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $5.872/MMBtu, down 11.1 cents
Natural gas prices slid down amid further weakening in the energy complex and milder weather forecasts for the weekend.

RBOB: $1.0764/gal, down 11.28 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices crashed as government figures showed a significant increase in domestic inventories, which were up by 3.3m bbl last week.

BENZENE: Benzene for January moved slightly lower, with notional price ideas around 84-93 cents/gal FOB (free on board) USG (US Gulf) compared with 85-95 cents/gal a day earlier.

ETHYLENE: US ethylene for January traded at 24.25 cents/lb, up from deals done at 23.00 and 23.50 cents/lb on Tuesday.

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

For more pricing intelligence please visit ICIS pricing

By: Staff Reporter
+44 20 8652 3214

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