29 October 2012 22:03 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Dec WTI: $85.54/bbl, down 74 cents; Dec Brent: $109.44/bbl, down 11 cents
NYMEX WTI crude futures finished down on concerns regarding potential damage to the energy infrastructure in the US northeast from Hurricane Sandy. With several refineries being shut down, crude and refined products went their separate ways as an excess in crude not being run could result in a shortage of gasoline and distillate inventories.
RBOB: Nov: $2.7568/gal, up 5.77 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) rose as Hurricane Sandy made its way toward the east coast. The storm could tighten an already thin supply situation in the region.
NATURAL GAS: Nov: $3.471/MMBtu, up 7.1 cents
Natural gas futures on the NYMEX finished higher on cooler weather outlooks, giving a 2% boost to the expiring November contract as the front-month. Analysts braced for the Hurricane Sandy's likely potential to cripple power demand in key northeast US cities, but until the extent of damage from Sandy becomes reality, traders were instead looking to the anticipated drop in temperatures as a boost to the futures price.
ETHANE: higher at 33.00 cents/gal
Ethane spot prices were higher, even as other energy commodities drifted lower.
AROMATICS: toluene steady at $4.15-4.30/gal, mixed xylene steady at $4.00-4.15/gal
Markets were quiet, as prices remained unchanged on Monday.
OLEFINS: ethylene done higher at 56.25 cents/lb; RGP bid higher at 47 cents/lb
A deal for November ethylene was heard at 56.25 cents/lb, up from a deal on Friday at 56.00 cents/lb. Spot bids for refinery-grade propylene (RGP) moved to 47 cents/lb, down from a deal done at 51 cents/lb the previous week, with no offers heard.
For more pricing intelligence please visit www.icispricing.com
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