EVENING SNAPSHOT - Americas Markets Summary

29 November 2012 23:16  [Source: ICIS news]

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

CRUDE: Jan WTI: $88.07/bbl, up by $1.58; Jan Brent: $110.76/bbl, up by $1.25
NYMEX WTI crude futures rose by more than $1/bbl on continued optimism on a US budget deal, as well as escalating tensions in the Middle East. The rise in crude values also tracked the dollar weakening against other currencies.

RBOB: Dec: $2.7870, up by 5.31 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled higher as the December prompt month futures contract neared expiration. A gain in crude oil futures also boosted gasoline futures.

NATURAL GAS: Jan: $3.648/MMBtu, down by 15.3 cents
Natural gas futures on the NYMEX slid by 4% on the first day of the January ‘13 futures contract as the front month, dragged lower by the weekly US Energy Information Administration (EIA) report that showed a slight surplus in gas inventory stocks, despite the expectations of high demand in midst of winter. 

ETHANE: higher at 26.25 cents/gal
Ethane spot prices recovered slightly from the previous day but still remain at record-low levels. Demand could fall further following news that Shell and Chevron Phillips Chemical were shutting ethane crackers for maintenance.

AROMATICS: toluene up at $4.22-4.33/gal; mixed xylene wider at $4.27-4.35
Prompt toluene spot prices were slightly higher during the day, sources said. The range was up by a penny compared with $4.21-4.32/gal FOB the previous session. Prompt mixed xylene (MX) spot prices moved little during the day. Bid levels were down a penny, while offers were stable. The December MX range was wider compared with $4.28-4.35/gal FOB on Wednesday.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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