18 May 2012 23:13 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $91.48/bbl, down $1.08; Jul Brent: $107.14/bbl, down 35 cents
NYMEX WTI crude futures extended losses to six consecutive sessions on concerns that the debt crisis in Spain and in Greece could affect other eurozone economies. This pressured global stock markets and caused the euro to experience great volatility, driving crude prices down. The losses were extended during electronic trading afterwards.
RBOB: Jun: $2.8895, up 1.13 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices had slight gains, but still remain low compared with the end of trading one week prior, which was at $3.0008/gal. Concerns of weakening demand following some disappointing US economic data has pushed gasoline futures down.
NATURAL GAS: Jun: $2.742/MMBtu, up 14.8 cents
The June front-month futures benchmark for natural gas shot up in a late-day rally, given the boost in temperature outlooks for cooling demand potential. The closing settlement was up 13% from the closing at the start of the week.
ETHANE: lower at 41.250-42.250 cents/gal
Ethane fell as there are still three main crackers undergoing turnarounds, which have suppressed demand during the winter and spring. All turnarounds are expected to end this month.
AROMATICS: Toluene up at $3.90-4.05/gal
Prompt n-grade toluene moved up to $3.90-4.05/gal, compared with $3.80-3.95/gal from the previous session, following a trade at $3.95/gal for May, sources said. Meanwhile, US mixed xylene (MX) prices moved down to $3.80-3.90/gal, compared with $3.95-4.05/gal, alongside weaker crude values.
OLEFINS: ethylene bid down at 51.50 cents/lb, RGP offer down at 47 cents/lb
US ethylene for May was bid lower compared with a deal at 51.75 cents/lb on Thursday. Ethylene for June traded at 51.25 cents/lb. Refinery-grade propylene (RGP) for May was offered lower at 47 cents/lb against a 45 cent/lb bid.
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