EVENING SNAPSHOT - Americas Markets Summary

07 November 2012 23:02  [Source: ICIS news]

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

CRUDE: Dec WTI: $84.44/bbl, down $4.27; Dec Brent: $106.82/bbl, down $4.25
NYMEX WTI crude futures fell sharply tracking a sell-off in the stock market as investors expressed concerns regarding the fiscal crisis and possible gridlock in Washington. The energy complex also responded to the weekly supply statistics from the Energy Information Administration (EIA) showing a build in crude, gasoline and distillates inventories.

RBOB: Dec: $2.5889, down 11.00 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled at a 19-week low as the US Energy Information Administration (EIA) said gasoline consumption fell by 537,000 bbl/day while inventories gained 2.9m bbl to 202.4m bbl for the week ended 2 November.

NATURAL GAS: Dec: $3.578/MMBtu, down 3.9 cents
The front month on the NYMEX natural gas market fell through Wednesday trading on predictions of a milder than usual weather across much of the coming winter, coupled with concerns over the release of US Energy Information Agency’s (EIA) latest weekly gas storage report, which is expected to show that inventories remain at 100% capacity. 

ETHANE: lower at 30.00 cents/gal
Ethane spot prices were lower as demand shrunk in the market.

AROMATICS: toluene flat at $4.10-4.25/gal, mixed xylene flat at $3.85-3.90/gal
Activity was thin in the US toluene and mixed xylene (MX) market during the day. As a result, spot prices were flat from the previous session.

OLEFINS: ethylene up at 55 cents/lb, RGP bid up at 50 cents/lb
US ethylene for November traded up compared with previous deals done at 54.375 cents/lb and 54.500 cents/lb late last week. Refinery-grade propylene (RGP) for November was bid slightly higher compared with a bid the previous day.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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