15 November 2012 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Dec WTI: $85.80/bbl, down 52 cents; Dec Brent: $110.54/bbl, up 93 cents
NYMEX WTI crude futures drifted lower in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a build in crude inventories. The refined products experienced a substantial drawdown as a result of disruptions in the US northeast by Hurricane Sandy. Front month Brent rose sharply on short covering as the December contract expires at the end of the session. The North Sea benchmark was also propped up by fresh tensions in the Middle East.
RBOB: Dec: $2.6903, up 1.13 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher after the US Energy Information Administration (EIA) data showed an increase in gasoline consumption and a decline in inventories for the week ended 9 November.
NATURAL GAS: Dec: 3.779/MMBtu, up 1.9 cents
Futures contracts on the NYMEX natural gas market edged upwards through Thursday morning as the ongoing cold snap on the east coast encouraged near-term demand expectations, and the EIA reported the first withdrawal from gas stocks of the winter heating season through the week ended 9 November.
ETHANE: lower at 29.75 cents/gal
Ethane spot prices were lower in early trading on bids and offers in the range of 29.50-29.875 cents/gal.
AROMATICS: benzene down at $4.60-4.75/gal
Benzene prices were down compared with the range of $4.70-4.82/gal FOB (free on board) on Wednesday.
OLEFINS: ethylene offered lower at 53.75 cents/lb, RGP bid lower at 50 cents/lb
Offers for November ethylene fell to 53.75 cents/lb compared with offers the previous day at 54.00 cents/lb, but no bids were heard. Bids for refinery-grade propylene (RGP) fell to 50.0 cents/lb from 50.5 cents/lb the previous day, with no offers heard.
For more pricing intelligence please visit www.icispricing.com
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