EVENING SNAPSHOT - Americas Markets Summary

01 November 2012 22:37  [Source: ICIS news]

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

CRUDE: Dec WTI: $87.09/bbl, up 85 cents; Dec Brent: $108.17bbl, down 53 cents
NYMEX WTI crude futures worked higher for the third consecutive session in response to the delayed weekly supply statistics from the Energy Information Administration (EIA), showing an unexpected drawdown in crude oil inventories. Prices rose early on, tracking a rally in the stock market in response to released data showing an improvement in the US labour market.

RBOB: Dec: $2.6336, up 0.33 cent/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were higher on the first day of trading on the December prompt-month contract. The US Energy Information Administration (EIA) showed a gain in gasoline consumption to 8.844m bbl/day for the week ended 26 October, which helped to boost futures.

NATURAL GAS: Dec: $3.699/MMBtu, up 0.07 cent
The December front month on the NYMEX natural gas market edged up slightly through Thursday trading despite the release of data by the US Energy Information Agency, showing inventory levels at a record high. Predictions of cooler than average temperatures for the coming weeks boosted short-term demand expectations.

ETHANE: lower at 31.50 cents/gal
Ethane spot prices were lower in an oversupplied, quiet market.

AROMATICS: toluene tighter at $4.15-4.25/gal, mixed xylene flat at $4.05-4.10/gal
Prompt n-grade toluene spot prices moved within a tighter range during the day, compared with $4.15-4.40/gal the previous session. Offers were lower from Wednesday.

OLEFINS: ethylene higher at 54.375-54.500 cents/lb, RGP offered flat at 53 cents/lb
November ethylene moved higher with news of deals done at 54.375 and 54.500 cents/lb, up from October’s last deal at 54.000 cents/lb. In the propylene market, November refinery-grade propylene (RGP) remained offered at 53 cents/lb, with no bids heard.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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