EVENING SNAPSHOT - Americas Markets Summary

25 February 2011 22:40  [Source: ICIS news]

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

CRUDE: Apr WTI: $97.88/bbl, up 60 cents; Apr Brent: $112.14/bbl, up 78 cents
NYMEX WTI crude futures closed out the week at their highest level since October 2008, but remained well off the week’s high of $103.41. Reports that Saudi Arabia had raised output helped ease geopolitical concerns, while the dollar shifted higher versus a basket of currencies.

RBOB: Mar: $2.7395/gal, up 2.28 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) prices moved higher on civilian uproar in Libya and Middle East turmoil inching further toward Saudi Arabia.

NATURAL GAS: Apr: $4.005/MMBtu, up 13.3 cents
The April contract took over position as the front month and shot above $4.00/MMBtu for the first time in a week and a half. Weather forecasts and production rates were steady, but Thursday’s lows signalled buying and technical support moved the market.

ETHANE: up at 71-74 cents/gal
Mont Belvieu ethane prices soared on market short-covering before the month’s end.

AROMATICS: benzene down at $4.25-4.35/gal
Prompt US benzene price discussions were weaker on Friday compared with Thursday’s early level of $4.50/gal FOB (free on board). The benzene market was riding the volatility seen in upstream energy futures.

OLEFINS: ethylene flat at 52.25 cents/lb; RGP bid at 60.00 cents/lb
US ethylene for March traded on the low end of deals done at 52.00-53.50 cents/lb on Thursday. Refinery-grade propylene (RGP) was bid at 60.00 cents/lb. RGP for March traded on Thursday at 61.50 cents/lb.

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

By: Staff Reporter
+44 20 8652 3214

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