14 November 2012 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Dec WTI: $86.32/bbl, up 94 cents; Dec Brent: $109.61/bbl, up $1.35
NYMEX WTI crude futures rose following two consecutive down days in response to the dollar weakening against the euro. Renewed tensions in the Middle East also provided support, but the political standoff with regards to spending cuts and tax hikes pressured the stock market.
RBOB: Dec: $2.6790, up 2.52 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled higher ahead of weekly US Energy Information Administration (EIA) data, which is expected to show a drop in gasoline inventories last week.
NATURAL GAS: Dec: $3.760/MMBtu, up 2.1 cents
Natural gas futures edged up through Wednesday trading, climbing nearly 10 cents in the morning session before falling towards close of trade, as colder weather across the east coast continued to boost gas demand fundamentals.
AROMATICS: toluene down at $4.10-4.20/gal, mixed xylene flat at $4.00-4.15/gal
US toluene spot prices were discussed lower during the day, compared with $4.14-4.30/gal FOB (free on board) the previous session. Meanwhile, mixed xylene (MX) prices were stable.
OLEFINS: ethylene offered higher at 54.0 cents/lb, RGP bid at 50.5 cents/lb
Offers for November ethylene increased to 54 cents/lb, up from deals done at 53.25 cents/lb, but no bids were heard. Bids for refinery-grade propylene (RGP) were heard at 50.5 cents/lb, with no offers heard, compared with a deal done the previous day at 50.5 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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