16 June 2011 23:33 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $94.95/bbl, up 14 cents; Aug Brent: $114.02/bbl, up $1.01
NYMEX WTI crude futures posted light gains as mixed economic data and July crude options expiration discouraged buying. In choppy action, the session’s high/low range remained within the previous high/low range resulting in an inside day.
RBOB: July: $2.9494/gal, up 2.59 cents/gal
Reformulated gasoline blendstock for oxygenated blending (RBOB) moved higher, but the gains were nominal compared with the loss of 14.11 cents/gal on Wednesday. Some gains were made as a correction to the previous day’s considerable loss, while officials in China also reassured the country’s strong demand.
NATURAL GAS: July: $4.412/MMBtu, down 16.5 cents
An immediate sell-off following the government’s storage report prompted traders to continue liquidating July contract positions throughout the session and brought the front month price down 3.6%, the lowest level since the end of May.
ETHANE: higher at 76.375-77.000 cents/gal
Mont Belvieu ethane prices inched higher as the NYMEX petroleum complex gave a much stronger performance than Wednesday.
AROMATICS: Benzene prices up at $3.74-3.77/gal
June benzene spot prices moved higher throughout the day on Thursday, sources said. The range was up from $3.69-3.71/gal FOB on Wednesday.
OLEFINS: July ethylene down at 64.50 cents/lb; RGP offer up at 74.00 cents/lb
US ethylene for July traded down from 65.25 cents/lb on Wednesday. The propylene market was quiet. Refinery-grade propylene (RGP) for June was offered at 74 cents/lb, up from a deal at 72 cents/lb on Tuesday.
For more pricing intelligence please visit www.icispricing.com
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