EVENING SNAPSHOT - Americas Markets Summary

10 May 2012 22:59  [Source: ICIS news]

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

CRUDE: Jun WTI: $97.08/bbl, up 27 cents; Jun Brent: $112.73/bbl, down 47 cents
NYMEX WTI crude futures finished mildly positive in an attempt to correct from oversold conditions after posting losses during six consecutive sessions. The stock market also rallied and the dollar fell against the euro. 

RBOB: Jun: $3.0102, down 1.39 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices fell as the US Department of Labor said unemployment benefit claims fell for the week ended 5 May, but are still relatively high, at a seasonally adjusted 367,000. This raised concerns over the US economic recovery and demand for commodities, such as gasoline.

NATURAL GAS: Jun: $2.487/MMBtu, up 2.2 cents
The June futures contract finished on a slight gain after a day of volatility, as trading was swung by the release of the US underground natural gas storage report, which showed a slight build in stocks for the week ended 4 May. The surplus was slightly smaller than expected, but trading did not move much higher because of the mild temperatures in the forecast that has staved off gas demand.

ETHANE: higher at 44-46 cents/gal
Mont Belvieu ethane continued to trade up after dropping to a three-year low below 40 cents/gal. Bargain buying has fuelled the higher prices as consumers and ethane crackers are taking advantage of the low ethane prices.

AROMATICS: toluene flat at $4.06-4.08/gal, Mixed xylene flat at $3.92-4.02/gal
Toluene and mixed xylene (MX) prices were flat on Thursday with most traders out of the market because of an industry function.

OLEFINS: ethylene done at 55.25 cents/lb, RGP offer flat at 56 cents/lb
US ethylene for May was done at 55.25 cents/lb for Choctaw delivery. RGP spot prices were steady, with no fresh bids or offers heard in the market.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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