EVENING SNAPSHOT - Americas Markets Summary

10 January 2009 00:44  [Source: ICIS news]

Editor's note: The top CRUDE: WTI price has been changed to the daily NYMEX settlement instead of the after-hours electronic Globex price. The after-hours price is now in the text.

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

CRUDE: WTI $40.83/bbl (down 87 cents), BRENT $44.42/bbl (down 25 cents)
US crude futures slipped towards $40.37/bbl in after-hours electronic Globex trading, extending the losses posted during the normal floor session. The market was pressured by a stronger dollar and sell-off in the stock market mainly in response to a gloomy unemployment report. WTI (West Texas Intermediate) bottomed out at $39.38/bbl before rebounding on pre-weekend profit taking.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $5.516/MMBtu down 6.7 cents
Natural gas futures prices dropped alongside falling values in the energy complex. Despite a cold spell looming next week, traders said that storage levels would be adequate to meet demand.

RBOB: $1.1112/gal, up 2.3 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) moved higher despite receding crude oil prices.

BENZENE: US Gulf benzene was talked at 88-95 cents/gal FOB (free on board), in line with the last trade heard Thursday at 90 cents/gal.

ETHYLENE: US ethylene for January traded at 23.00 cents/lb. Ethylene for January had last traded on 7 January at 24.50 cents/lb.

PROPYLENE: US refinery-grade propylene (RGP) was bid at 19 cents/lb on Friday for rail or truck delivery. No offers were heard. RGP for January last traded at 15.00 cents/lb on 5 January.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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