02 May 2012 23:18 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $105.22/bbl, down 94 cents; Jun Brent: $118.20/bbl, down $1.46/bbl
NYMEX WTI crude futures ended lower, erasing a portion of the previous session’s gains. The drop came as inventory data from the Energy Information Administration (EIA) showed a larger–than–expected build in domestic crude stockpiles. The decline also came on the back of weak economic data from the US and EU, reviving demand concerns.
RBOB: June: $3.0757, down 2.14 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices dropped as gasoline demand was 5.8% lower for the week ended 27 April compared with the same time in 2011, according to the EIA.
NATURAL GAS: June: $2.253/MMBtu, down 11.8 cents
Natural gas futures on the NYMEX reversed directions after a two-day rally and steadily pointed south, as the burgeoning gas supply fundamentals overshadows soft demand caused by a warm winter.
ETHANE: lower at 44.125 cents/gal
Mont Belvieu ethane prices fell on lessened demand because of an increase in US Gulf ethane crackers turnarounds and outages, which have kept prices low for most of this year.
AROMATICS: benzene up at $4.21-4.25/gal
Prompt benzene prices rose from the previous session, following stronger demand. The range was up from $4.20-4.23/gal FOB (free on board) the previous session
OLEFINS: ethylene traded down at 63 cents/lb, RGP bid flat at 59.00 cents/lb
US ethylene for May traded down from a deal done at 66 cents/lb on Friday. Refinery-grade propylene (RGP) for May was bid flat at 59 cents/lb against a 62 cents/lb offer.
For more pricing intelligence please visit www.icispricing.com
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