26 October 2012 22:45 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Dec WTI: $86.28/bbl, up 23 cents; Dec Brent: $109.55/bbl, up $1.06
NYMEX WTI crude futures finished up for the second consecutive session on bargain hunting ahead of the weekend and tracking a rally in the refined products. The stock market received support from released data showing the US economy expanding at a faster rate than expected, overshadowing disappointing quarterly earnings results from various corporations. The negative trans-Atlantic Brent-WTI arbitrage widened substantially.
RBOB: Nov: $2.6991, up 2.27 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled higher as Hurricane Sandy and the potential to disrupt east coast refinery operations lent support to gasoline futures. Further setbacks in US gasoline production would put added strain on an already tight supply backdrop in that region.
NATURAL GAS: Nov: $3.400/MMBtu, down 3.4 cents
The front month on the NYMEX natural gas market slipped by 1% through bearish Friday trade, as markets reacted to changing weather forecasts, which predict warmer than normal weather for most of November, offering little near-term optimism for a decline in gas inventories currently at a record high.
ETHANE: higher at 32.75 cents/gal
Ethane spot prices were higher on Friday, following other energy commodities on an upward trend.
AROMATICS: toluene wider at $4.15-4.30/gal, mixed xylene down at $4.00-4.15/gal
Prompt toluene spot prices were wider to end the week, as offers moved higher. Friday’s end-of-day n-grade toluene spot range was wider compared with $4.15-4.25/gal FOB (free on board) the previous session. Meanwhile, mixed xylene (MX) spot prices were down from $4.10-4.20/gal FOB the previous day.
OLEFINS: ethylene bid lower at 56 cents/lb; RGP bid down at 46 cents/lb
October ethylene was bid lower compared with deals on Thursday, while refinery-grade propylene (RGP) for November was bid lower compared with an October deal the previous day.
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