21 June 2012 23:13 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $78.20/bbl, down $3.25; Aug Brent: $89.23/bbl, down $3.46
NYMEX WTI crude futures hit 18-month lows in response to disappointing global economic data. The stock market fell and the dollar shifted higher against a basket of currencies.
RBOB: Jul: $2.5501, down 4.01 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices extended their loss as it tracked the lower crude oil settlements and was influenced by the Wednesday Energy Information Administration (EIA) demand report, which showed gasoline consumption for the week ended 15 June is 5.1% lower than one year prior.
NATURAL GAS: Jul $2.582/MMbtu, up 6.5 cents
Natural gas futures on the NYMEX reversed course and rose on Thursday, following an EIA report showing a less-than-expected gain in storage levels. The weather forecast also gave prices a boost, with warmer temperatures in the northeast.
ETHANE: lower at 28.875-30.000 cents/gal
Mont Belvieu ethane prices traded lower, with the supply glut and lack of demand pressuring prices. An outage at a cracker owned by Sasol this week caused demand to sink even lower.
AROMATICS: toluene up at $3.65-3.80/gal
N-grade toluene spot prices moved up, compared with $3.60-3.71/gal a day earlier. No fresh trades were heard. Meanwhile, US MX spot prices moved down to $3.46-3.50/gal, compared with $3.50-3.59/gal Wednesday, following lower prices in other aromatics markets.
OLEFINS: ethylene up at 43.50 cents/lb, RGP bid flat at 37 cents/lb
US ethylene for June traded higher on support from outages and continued maintenance at US crackers. Refinery-grade propylene (RGP) was bid flat compared with the previous day. No offers were heard. RGP traded at 37.00 and 38 cents/lb last week.
For more pricing intelligence please visit www.icispricing.com
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