EVENING SNAPSHOT - Americas Markets Summary

08 January 2009 23:01  [Source: ICIS news]

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

CRUDE: WTI $42.35/bbl (up 65 cents), BRENT $44.67/bbl (down $1.19)
US crude futures rose in after hours electronic Globex trading following an extremely volatile session. Prices were pushed and pulled by weakness in the stock market as well as in the US dollar and a disappointing economic outlook. WTI (West Texas Intermediate) bottomed out at $40.54/bbl before rebounding on bottom picking.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $5.583/MMBtu, down 28.9 cents
Natural gas futures prices plummeted following a smaller-than-expected draw in natural gas inventories.

RBOB: $1.0882/gal, up 1.18 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) prices moved up despite a drop in crude oil.

BENZENE: US Gulf coast benzene was quiet with bids in the low-to-mid 80s cents/gal and offers notionally pegged around 91 cents/gal.

ETHYLENE: The US ethylene spot market was quiet following a flurry of deals on Wednesday when the monomer traded at 24.25 and 24.50 cents/lb. That was up from deals done at 23.00 and 23.50 cents/lb the previous day.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard on Thursday. RGP for January last traded at 14.50 and 15.00 cents/lb on Monday.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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