EVENING SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Nov WTI: $91.86/bbl, down 21 cents; Nov Brent: $114.62/bbl, down $1.09
NYMEX WTI crude futures traded in a narrow range but drifted lower after a stock market rally faded. The market was also pressured by a report from the International Energy Agency (IEA) trimming its oil demand growth outlook and forecasting a gradual easing of oil prices due to increased production in Iraq and in North America.

RBOB: Nov: $2.8928, down 6.28 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled lower on the drop in crude oil futures and in response to the International Energy Agency downwardly revising its 2012 global oil demand forecast.

NATURAL GAS: Nov: $3.611/MMBtu, up 0.7 cent
The front month on the Nymex natural gas market edged up through Friday trading to set a new 2012 record price, closing the week up 6.1% from close of trade 5 October.

ETHANE: lower at 31.25-31.50 cents/gal
Ethane spot prices were slightly lower as activity was thin in a quiet market.

AROMATICS: toluene wider at $4.38-4.50/gal, mixed xylene (MX) down at $4.25-4.35/gal
Prompt n-grade toluene spot prices were wider from $4.40-4.45/gal FOB (free on board) the previous day. Mixed xylene (MX) spot prices were down  from $4.40-4.46/gal FOB the previous session.

OLEFINS: ethylene lower at 53.5 cents/lb; RGP higher at 43.5 cents/lb
October ethylene fell after a deal was done at 53.500 cents/lb, compared with deals done on Wednesday at 55.500 and 56.125 cents/lb, tracking weaker demand. Spot prices for refinery-grade propylene (RGP) moved up slightly to 43.5 cents/lb, up from a deal done the previous week at 43.0 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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