EVENING SNAPSHOT - Americas Markets Summary

15 November 2012 23:00  [Source: ICIS news]

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

CRUDE: Dec WTI: $85.45/bbl, down 87 cents; Dec Brent: $110.98/bbl, up $1.37
NYMEX WTI crude futures slipped in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a build in crude inventories. Crude prices were also pressured by another round of softness in the stock market in response to the political standoff with regards to spending cuts and tax hikes. Front month Brent rose sharply on short covering as the December contract expired at the end of the session. The North Sea benchmark was also propped up by fresh tensions in the Middle East.

RBOB: Dec: $2.6962, up 1.72 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled 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: 3.703/MMBtu, down 5.7 cents
Futures contracts on the NYMEX natural gas market lowered through Thursday trading despite near term demand expectations based on the ongoing cold snap across the east coast. Some traders were left disappointed with the US Energy Information Agency’s latest gas storage report for the week ended 9 November, which showed a 18 billion cubic feet withdrawal from inventories. 

ETHANE: lower at 29.50 cents/gal
Ethane prices fell on Thursday, decoupling from crude and other energy commodities.

AROMATICS: toluene flat at $4.10-4.20/gal, mixed xylene narrower at $4.02-4.03/gal
Discussions were thin in the US toluene market during the day. However, prompt mixed xylene (MX) prices moved to within a more narrow range, following a trade at $4.025/gal. The deal was within the previous day’s band of $4.00-4.15/gal FOB (free on board).

OLEFINS: ethylene bid lower at 49.5 cents/lb, RGP bid lower at 50 cents/lb
Bids for November ethylene fell to 49.50 cents/lb, down from recent deals done at 53.25 cents/lb. November ethylene was offered wider at 51.75-53.75 cents/lb. 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

By: Staff Reporter
+44 20 8652 3214

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