15 December 2011 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $94.16/bbl, down 79 cents; Jan Brent: $105.60/bbl, up 58 cents
NYMEX WTI crude futures extended recent losses on persistent eurozone debt worries despite a rebound in the stock market in response to upbeat jobless claims data. Brent experienced some short covering on contract expiration day. WTI bottomed out at $93.87/bbl before rebounding.
RBOB: Jan: $2.5156/gal, up 1.19 cents
Reformulated gasoline blendstock for oxygen blending (RBOB) prices rose following the release of the ?xml:namespace>
NATURAL GAS: Jan: $3.159/MMBtu, up 2.3 cents
Prompt natural gas futures on the NYMEX were trading on a slight gain after a US government storage report showed stockpiles fell by 102bn cubic feet (bcf), indicating heating-related demand that has been delayed by mild temperatures in November and early December.
AROMATICS: Benzene down at $3.34-3.43/gal
Prompt benzene spot levels moved slightly down as the crude market came off on eurozone concerns. The morning range was down from $3.35-3.45/gal FOB (free on board) the previous session.
OLEFINS: Ethylene tighter at 50.00-51.25 cents/lb, Refinery-grade propylene flat at 39 cents/lb.
Ethylene bid/offers moved to within a tighter range on Thursday morning, compared with 50.00-53.50 cents/lb the previous session. Ethylene last traded on Wednesday at 50.50 cents/lb. Meanwhile, the refinery-grade propylene market was quiet, with no change from the previous day.
For more pricing intelligence please visit www.icispricing.com
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