14 May 2012 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $94.78/bbl, down $1.35/bbl; Jun Brent: $111.57/bbl, down 69 cents
NYMEX WTI crude futures settled lower to start the week, continuing the downtrend from the previous week. The session’s lower settlement was driven down by news of China’s slowing economy, a potential exit from the euro zone by Greece and a call for higher crude inventories by Saudi Arabia.
RBOB: Jun: $2.9590, down 4.18 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices reached their lowest level since 7 February. Continued concerns about the European and Asian economies fuelled the drop.
NATURAL GAS: Jun: $2.431/MMBtu, down 7.8 cents
The June NYMEX futures contract snapped a streak of five consecutive sessions of increases as natural gas followed the losses recorded along the rest of the US energy complex and equities markets.
ETHANE: lower at 45.25-45.50
Mont Belvieu ethane prices dipped slightly from the previous week’s close as softer demand persisted and energy values continued to fall. A deal was heard at the low end of the range but not at the high end.
AROMATICS: Toluene lower at $3.95-4.00/gal
Prompt n-grade toluene prices moved down to start the week, compared with $4.00-4.01/gal from the previous session, following weak demand. Meanwhile, US mixed xylene (MX) prices held steady at $3.95-4.05/gal, on thin buying interest, sources said.
OLEFINS: ethylene bid down at 52 cents/lb, RGP offer down at 51 cents/lb
US ethylene for May was bid lower compared with a 53-cent/lb bid on Friday. An offer was heard at 56 cents/lb. Refinery-grade propylene (RGP) for May was offered lower at 51 cents/lb with no bids. RGP bid/offers for May were at 47-52 cents/lb on Friday.
For more pricing intelligence please visit www.icispricing.com
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