EVENING SNAPSHOT - Americas Markets Summary

11 March 2011 22:44  [Source: ICIS news]

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

CRUDE: Apr WTI: $101.16/bbl, down $1.54; Apr Brent: $113.84/bbl, down $1.59 NYMEX WTI crude futures finished down for the fourth consecutive session on perception that the massive earthquake in Japan could temporarily reduce oil demand from the world’s third largest consumer. WTI bottomed out at $99.01/bbl before the dip attracted buying on geopolitical worries.

RBOB: Apr: $2.9877/gal, down 3.19 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures fell under $3/gal for the third time in March. The price drop across came after a massive earthquake hit offshore Japan, resulting in a hard hit on the world’s third-largest economy.

NATURAL GAS: Apr: $3.889/MMBtu, up 5.9 cents
The front-month natural gas futures contract increased 1.5% on speculation that lower prices in 2011 would spark demand from factories and power plants. Prices also increased as the earthquake in Japan could indicate rising demand in the region for liquefied natural gas (LNG).

ETHANE: down at 64.25-64.50 cents/gal
Mont Belvieu ethane ended the week at a low mark amid thin trading in the natural gas liquids (NGL) market. Prices mainly tracked the downward trend in crude futures.

AROMATICS: toluene wider at $3.53-3.55/gal
US n-grade toluene prices ended the week at $3.53-3.55/gal FOB (free on board) on Friday, unchanged from 4 March. The price range was slightly wider compared $3.54-3.55/gal FOB the previous day.

OLEFINS: refinery-grade propylene tighter at 68.00-70.25 cents/lb
March refinery-grade propylene (RGP) was bid at 68.00 cents/lb during the day, with offer levels unchanged from Thursday at 70.25 cents/lb. Friday's range was tighter compared with 67.50-70.25 cents/lb on Thursday.

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

By: Staff Reporter
+44 20 8652 3214

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