EVENING SNAPSHOT - Americas Markets Summary

02 February 2010 23:09  [Source: ICIS news]

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

CRUDE: Mar WTI: $77.23/bbl, up $2.80; Mar Brent: $76.06/bbl, up $2.95
Crude prices rose, and then fell, in electronic trading following a healthy rally experienced during the normal floor session. Upside momentum from the NYMEX close lifted March crude up to $77.41/bbl but came tumbling down towards $77.00/bbl following the release of the statistics from the America Petroleum Institute (API). The supply data showed a much greater than forecast build in crude stocks, outweighing an unexpected drawdown in gasoline inventories.

NATURAL GAS: $5.454/MMBtu, up 2.0 cents
Natural gas futures prices moved up as winter weather crept across the US.

RBOB: $2.0179/gal, up 8.58 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices surged on the back of rising crude oil values.

BENZENE: Spot benzene offers in the US Gulf were heard in the $3.60s/gal FOB (free on board) for February and lower by 10 cents/gal for material loading in March.

ETHYLENE: US ethylene for February traded at 51.75 cents/lb on Tuesday. That compares with a January deal done at 51.00 cents/lb on Friday.

PROPYLENE: The refinery-grade propylene (RGP) market remained quiet on Tuesday. February RGP last traded at 55.00 cents/lb on Friday.

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

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By: Staff Reporter
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