EVENING SNAPSHOT - Americas Markets Summary

11 October 2012 23:01  [Source: ICIS news]

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

CRUDE: Nov WTI: $92.07/bbl, up 82 cents; Nov Brent: $115.71/bbl, up $1.38
NYMEX WTI crude futures rose in response to the tensions in the Middle East but trimmed the gains. This followed the release of the weekly supply statistics from the Energy Information Administration (EIA), showing a much greater-than-forecast build in crude inventories. A much greater-than-expected drawdown in distillate inventories ahead of winter was noted and kept the losses in check, but gasoline demand remained soft. The stock market was mixed, but the euro shifted higher against the dollar

RBOB: Nov: $2.9556, down 0.37 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices had little change after the US Energy Information Administration (EIA) gasoline report showed a drop in both consumption and inventories for the week ended 5 October.

NATURAL GAS: Nov: $3.604/MMBtu, up 12.9 cents
The front month on the Nymex natural gas market rose by 3.7% across Thursday trading, as nuclear capacity outages across the east coast region boosted consumption for gas fired power generation. The increases came in spite of the US Energy Information Agency (EIA) reporting continued high inventory levels though the injection rate for the week ended 5 October was at the lower end of analysts’ expectations.

ETHANE: higher at 31.375-31.500 cents/gal
Ethane spot prices moved slightly higher than Wednesday’s range but traded near the same levels throughout the day Thursday on a reported deal early in the morning.

AROMATICS: toluene flat at $4.40-4.45/gal, mixed xylene flat at $4.40-4.46/gal
Markets were steady as trade participants were at an industry event.

OLEFINS: ethylene steady at 55.500-56.125 cents/lb; RGP steady at 42-45 cents/lb
October ethylene was steady after two deals were done the previous day at 55.000-56125 cents/lb, but were trending lower. No deals for October refinery-grade propylene (RGP) were heard, but bid/offer levels held firm

For more pricing intelligence please visit www.icispricing.com


By: Tracy Dang
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly