EVENING SNAPSHOT - Americas Markets Summary

13 September 2012 23:02  [Source: ICIS news]

HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Oct WTI: $98.31/bbl, up $1.30; Oct Brent: $116.90bbl, up 94 cents
NYMEX WTI crude futures rose sharply in line with a stock market rally and a weaker dollar in response to the announcement by the US Federal Reserve to launch a new round of stimulus. October Brent went off the board at the end of the session.

RBOB: Oct: $2.9622, down 3.94 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices continued their fall, settling lower than $3.0000/gal for the first time in more than a week as supply improved and demand fell. 

NATURAL GAS: Oct: $3.037/MMBtu, down 2.6 cents
Natural gas futures on the NYMEX fell after the weekly storage report showed weaker than expected results, when trader expectations were rallying for the past few days on tighter supply from the recent production shut-ins lingering from Hurricane Isaac in late August.

ETHANE: higher at 32.75-33.00 cents/gal
Ethane spot prices moved up from Wednesday’s values, although prices dipped in the afternoon. Sources said prices moved up on stronger crude and energy values, as well as the prospect of further economic stimulus in the US.

AROMATICS: toluene flat at $4.25-4.35/gal
Discussions were thin in the n-grade toluene market. As a result, prices were flat at $4.25-4.35/gal. Meanwhile, US MX spot prices held steady at $4.45-4.50/gal, following thin market discussions. 

OLEFINS: ethylene down at 57.375 cents/lb; RGP bid down at 37 cents/lb
US ethylene spot prices remained on a downtrend, while refinery-grade propylene (RGP) was bid at 37 cents/lb with no offers.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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