29 June 2012 23:07 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day ?xml:namespace>
CRUDE: Aug WTI: $84.96/bbl, up $7.27 Aug Brent: $97.80, up $6.44
NYMEX WTI crude oil futures rose sharply on Friday as European leaders agreed on a deal to cut Spanish and Italian borrowing costs and maintain a single currency, boosting sentiment on the last trading day of the quarter in one of the worst years for oil. The increase represents the largest one-day percentage gain for the front month in 2012. For the week, WTI was up by 6.5%
RBOB: Jul: $2.7272, up 11.30 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices gained as the prompt month contract expires and the August contract will trade as the prompt month on Monday.
NATURAL GAS: Aug: $2.824/MMBtu, up 10.2 cents
Natural gas futures on the NYMEX rose 4% by closing, supported by well-above-normal temperatures sustained in the weather outlooks for the US. Increased cooling demand has raised trading expectations, despite the glut in storage supply.
ETHANE: higher at 28.25-29.00 cents/gal
Mont Belvieu ethane prices ended the week higher after reaching a record low price on Thursday. Trading was thin ahead of the weekend, when many Americans will be celebrating and preparing for the Fourth of July Holiday. Record high ethane inventory has continued to pressure prices.
AROMATICS: toluene up at $3.75-3.90/gal
Spot prices for n-grade toluene moved higher to $3.75-3.90/gal, compared with $3.55-3.65/gal, on the back of tight supply and stronger crude values. Meanwhile, US MX spot prices moved up to $3.50-3.70/gal, compared with $3.45-3.55/gal a day earlier, following a hike in crude values and higher prices in other aromatics markets.
OLEFINS: ethylene bid up at 42.25 cents/lb, RGP flat at 37 cents/lb
US ethylene for July was bid higher compared with deals done on Thursday. Refinery-grade propylene (RGP) for July traded flat compared with deals done earlier this week, but higher than an early bid of 34 cents/lb on Thursday.
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