EVENING SNAPSHOT - Americas Markets Summary

09 May 2012 23:09  [Source: ICIS news]

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

CRUDE: Jun WTI: $96.81/bbl, down 20 cents; Jun Brent: $113.20/bbl, up 47 cents
NYMEX WTI crude futures finished down for the sixth consecutive session, tracking a volatile stock market in response to political and economic concerns in the eurozone. The weekly supply statistics from the Energy Information Administration (EIA) revealed oil inventories rising for the seventh consecutive week, but gasoline and distillate inventories experienced a steep drawdown.

RBOB: Jun: $3.0241, up 2.97 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices moved higher to trade above $3/gal for the first time since 4 May. Gasoline consumption rose by 172,000 bbl/day to reach 8.864m bbl/day for the week ended 4 May, according to the EIA. This is on top of a 197,000 bbl/day gain for the week ended 27 April.  

NATURAL GAS: Jun: $2.465/MMBtu, up 7.2 cents
The June Henry Hub futures contract on the NYMEX finished on its third consecutive gain, as trading took off from the start of the session, hitting an intraday peak of $2.51/MMBtu before losing support and settling to its closing price. Warmer temperatures in the west have boosted outlooks for potential cooling demand, although oversupply concerns persist. 

ETHANE: higher at 42.0-44.5 cents/gal
Mont Belvieu ethane prices moved higher, but are still at the lowest levels since May 2009. Ethane prices have remained low in order to stay competitive with dropping propane prices for the primary ethylene feedstock choice.

AROMATICS: toluene tighter at $4.06-4.08/gal, Mixed xylene flat at $3.92-4.02/gal
Prompt n-grade toluene prices moved to within a tighter range during the day, following a trade at $4.07/gal. The trade was within the previous day’s range of $4.02-4.10/gal. There was no activity in the mixed xylene (MX) market during the day.

OLEFINS: ethylene flat at 54 cents/lb, RGP offer down at 56 cents/lb
US ethylene for May traded flat with a previous deal done late on Tuesday. Refinery-grade propylene (RGP) was offered lower at 56 cents/lb with no bids. RGP traded at 60 and 62 cents/lb last week.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly