EVENING SNAPSHOT - Americas Markets Summary

16 November 2012 22:52  [Source: ICIS news]

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

CRUDE: Dec WTI: $86.67/bbl, up by $1.22; Jan Brent: $108.95/bbl, up by 94 cents
NYMEX WTI crude futures rose on expiration short covering as the December contract went off the board at the end of the session. Geopolitical issues in the Middle East and a meeting on US debt negotiations provided underlying support.

RBOB: Dec: $2.7101, up by 1.39 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled higher as it tracked gains made in crude oil. An increase in gasoline consumption last week, and a fire at an offshore oil and gas platform in the Gulf of Mexico also contributed to the rally.

NATURAL GAS: Dec: $3.790/MMBtu, up by 8.7 cents
Natural gas futures on the NYMEX saw a steady rally during Friday trading, supported by cold weather outlooks, particularly on the east coast. Friday’s closing represented a 22-cent gain throughout the week, overcoming traders’ concerns on ample storage length.

ETHANE: lower at 29.25 cents/gal
Ethane prices dipped on Friday, decoupling from crude and other energy commodities as demand was thin in quiet market.

AROMATICS: toluene up at $4.12-4.30/gal
US toluene spot prices were discussed higher, sources said on Friday. The range was up from $4.10-4.20/gal FOB (free on board) the previous session as energy prices picked up.

OLEFINS: ethylene tighter at 50.500-51.625 cents/lb, RGP bid lower at 48 cents/lb
Bids for November ethylene rose to 50.5 cents/lb from 49.5 cents/lb the previous day. Offers were heard at 51.625 cents/lb, down from 53.750 cents/lb the previous day. Bids for refinery-grade propylene (RGP) fell to 48 cents/lb from 50 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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