EVENING SNAPSHOT - Americas Markets Summary

04 November 2009 23:00  [Source: ICIS news]

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

CRUDE: Dec WTI: $80.40/bbl, up 80 cents; Dec Brent: $78.89/bbl, up 78 cents
Crude prices were extremely volatile in after-market electronic trading as the various markets attempted to interpret the Fed’s decision to leave interest rates unchanged. The stock market surged but eventually ran out of steam and crude prices spiked towards $80.70/bbl before retreating on profit taking to consolidate either side of $80.30/bbl.

NATURAL GAS: $4.725/MMBtu, down 19.7 cents
Natural gas futures prices declined on mild weather forecasts in key-consuming regions.

RBOB: $2.0127/gal, up 1.23 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices gained alongside higher crude oil values.

BENZENE: November benzene spot offers moved up to $2.83/gal FOB (free on board) USG (US Gulf) with offers on a DDP (delivery, duty paid) basis at a 2-cent discount. Bids were heard in the mid $2.70s/gal FOB following firm spot trades in the downstream styrene market.

ETHYLENE: US Gulf ethylene spot business for November delivery was heard at 33.000 cents/lb on the Equistar system and at 32.000 and 32.625 cents/lb on the Williams system.

PROPYLENE: US refinery-grade propylene (RGP) was unchanged at 43.5-44.5 cents/lb with no deals heard done.

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

By: Staff Reporter
+44 20 8652 3214

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