EVENING SNAPSHOT - Americas Markets Summary

25 March 2011 21:52  [Source: ICIS news]

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

CRUDE: May WTI: $105.40/bbl, down 20 cents; May Brent: $115.59/bbl, down 13 cents
NYMEX WTI crude futures closed out the week in slightly negative territory, having traded within a narrow range. Support from the geopolitical conflicts was countered by a strong dollar.

RBOB: Apr: $3.0445/gal, down 0.03 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures peeked into positive territory before settling with a slight loss. Multiple forces in the market bounced off each other to limit price movements, but the strength of the US dollar ultimately pushed futures into the negative.

NATURAL GAS: Apr: $4.403/MMBtu, up 15.9 cents
The natural gas front-month futures contract surged in the afternoon, reaching a 7-week high on expectations that cold weather across the northern tier of the US will raise demand for heating fuel.

ETHANE: down at 71.0-71.5 cents/gal
Mont Belvieu ethane prices on the spot market continued to press lower amid the fall in natural gas liquids since midweek. Ethane has tumbled in line with propane and butane, allowing it to remain competitive as a chemical feedstock.

AROMATICS: styrene steady at 66.75-67.25 cents/lb
Prompt styrene spot prices were unchanged from the previous session amid weak interest from buyers. April styrene spot levels said to be lower at 65.00-66.00 cents/lb FOB (free on board).

OLEFINS: ethylene up at 60.00 cents/lb
US ethylene for March traded higher, extending an uptrend that began on Monday when the monomer traded at 58.50 cents/lb. The increase stems from firm demand, limited supply and news that a producer will restrict deliveries in April.

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

By: Staff Reporter
+44 20 8652 3214

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