25 June 2012 23:29 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $79.21/bbl, down 55 cents; Aug Brent: $91.01/bbl, up 3 cents
US crude futures fell on doubt that a EU summit later in the week would help resolve the eurozone debt crisis. WTI topped out at $80.68 before falling.
RBOB: Jul: $2.6458, up 7.59 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices jumped following a US Department of Commerce housing report, which showed sales of new single-family homes shot up by 7.6% in May from April. Furthermore, possible threats to US Gulf gasoline production from Tropical Storm Debby caused prices to climb.
NATURAL GAS: Jul: $2.694/MMBtu, up 6.9 cents
July prompt prices for natural gas futures on the NYMEX settled higher, supported by above-average temperatures for the eastern half of the US, which is turning on cooling demand. Trading reached as high as $2.73/MMBtu before tapering to a close.
ETHANE: lower at 27.75-29.25 cents/gal
Mont Belvieu ethane prices fell to the lowest price since 9 September 2002. Lower ethylene prices, resulting in less demand for ethane, continues to pressure prices lower.
AROMATICS: toluene tighter at $3.60-3.70/gal
N-grade toluene spot prices moved within a tighter range Monday afternoon, with offers down to $3.70/gal, compared with $3.60-3.90/gal from the previous session. Sources say toluene supply is tight and demand is weak. Meanwhile, US MX spot prices were heard higher at $3.50-4.00/gal, compared with $3.44-3.50/gal from the previous session, on the back of tight supply.
OLEFINS: ethylene bid up at 44.00 cents/lb, RGP flat at 37 cents/lb
June and July ethylene was were both bid at 44.000 cents/lb during the day. The bid was up from bid levels at 43.50 cents/lb on Friday. Offer levels were not seen. July ethylene was also heard to have traded at 44.125 cents/lb and 45.000 cents/lb, but was not confirmed. Meanwhile, the refinery-grade propylene market was quiet.
For more pricing intelligence please visit www.icispricing.com
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