12 May 2010 22:02 [Source: ICIS news]
HOUSTON (ICIS news)--US gasoline stocks drew an unexpected 2.8m bbl last week, sending front-month reformulated gasoline blendstock for oxygenate blending (RBOB) prices up on Wednesday.
According to the US Energy Information Adminstration (EIA), total domestic gasoline stocks fell to 222.1m bbl during the week ended 7 May. Market analysts expected an increase of 700,000 bbl.
On the NYMEX, June RBOB jumped 1.52 cents to close at $2.2104/gal. Larger gains were held in check by receding crude oil prices, which drifted lower in response to the EIA statistics showing a greater-than-expected build in domestic crude oil inventories.
Total US crude stocks stood at 362.5m bbl last week, up 1.9m bbl from the previous week.
June WTI closed at $75.65/bbl, down $0.72 from Tuesday.To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|