25 January 2011 22:51 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day ?xml:namespace>
CRUDE: Mar WTI: $86.19/bbl, down $1.68; Mar Brent: $95.25/bbl, down $1.36
NYMEX WTI crude futures finished down for the sixth consecutive session, under pressure from mixed economic data despite a seesawing dollar. The weekly API stats revealed a much greater-than-forecast build in crude inventories.
RBOB: Feb: $2.3427/gal, down 7.05 cents/gal
Reformulated gasoline blendstock for oxygenate blending (RBOB) fell 2.9% as crude dropped to an eight-week low. The drop resulted from lower residential real estate prices and a possible boost in OPEC production. The market ignored two US Gulf refinery turnarounds that could raise demand.
NATURAL GAS: Feb: $4.473/MMBtu, down 10.7 cents
The prompt futures benchmark fell for the second consecutive day, shedding more than 5% in two NYMEX sessions. A slight warm up in temperature forecasts over the next two weeks triggered the sell off, as investors exited to take profits from Friday’s six-month high.
ETHANE: down at 62.500-63.375 cents/gal
Mont Belvieu ethane prices followed the crude market downward, especially in response to a possible increase in OPEC production.
AROMATICS: benzene steady at $4.25-4.32/gal
Aromatics activity was still quiet in the afternoon as traders stayed on the sidelines. Market sources said the lack of activity was because of ongoing contract discussions for February benzene, as well as weaker crude.
OLEFINS: ethylene steady at 43.00 cents/lb; RGP flat at 72.50 cents/lb
US ethylene price ideas for January remained around 43.00 cents/lb. Refinery-grade propylene (RGP) was last heard traded at 72.50 cents/lb on Monday, down from 73.00 cents/lb last week.
For more pricing intelligence please visit www.icispricing.com.
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