EVENING SNAPSHOT - Americas Markets Summary

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

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

CRUDE: Dec WTI: $85.57/bbl, down 50 cents; Dec Brent: $109.07/bbl, down 33 cents
NYMEX WTI crude futures traded within a narrow high/low range before posting light losses on the session with a US federal holiday and concerns regarding fiscal issues keeping traders on the sidelines.

RBOB: Dec: $2.6763, down 2.29 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices retreated from gains made during morning trading, tracking the drop in crude oil futures.

NATURAL GAS: Dec: $3.570/MMBtu, up 6.7 cents
Natural gas futures on the NYMEX were pushing higher on expectations of colder weather, although near-term forecasts also showed mixed weather patterns for much of the US. Traders raised the Henry Hub benchmark as the heating demand factors outweighed the record-high inventory levels.

ETHANE: higher at 29.375
Ethane spot prices traded slightly higher, but remained weak on the drop in crude with supplies remaining long.

AROMATICS: toluene up at $4.15-4.30/gal, mixed xylene up at $4.00-4.15/gal
Prompt US n-grade toluene spot prices were discussed higher during the day. The afternoon range was up from $4.12-4.20/gal FOB (free on board) the previous session. Meanwhile, mixed xylene (MX) prices were discussed higher as well. The afternoon MX range was up from a deal at $4.00/gal FOB on Friday.

OLEFINS: ethylene lower at 51.00-55.25 cents/lb, RGP wider at 50-52 cents/lb
US November ethylene bids fell to 51.00 cents/lb, while offers fell to 54.50-55.25 cents/lb, tracking weaker demand. US refinery-grade propylene (RGP) for November was heard wider at 50-52 cents/lb, compared with the previous week’s range of 50.000-50.625 cents/lb.

For more pricing intelligence, please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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