EVENING SNAPSHOT - Americas Markets Summary

30 November 2012 23:25  [Source: ICIS news]

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

CRUDE: Jan WTI: $88.91/bbl, up 84 cents; Jan Brent: $111.23/bbl, up 47 cents
NYMEX WTI crude futures rose on concerns of threats to supply based on rising tensions in the Middle East. Lingering concern about a stalemate in US budget discussions weighed on prices. However, those concerns were outweighed by ongoing hostility between Israel and Palestine, as well as unrest in Egypt and Syria.

RBOB: Dec: $2.7614, down 2.56 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled lower as crude oil weakened, and the RBOB December prompt month contract expired at the end of the trading session.

NATURAL GAS: Jan: $3.561/MMBtu, down 8.7 cents
Natural gas futures on the NYMEX shed almost 9 cents, showing the second consecutive loss for the January ‘13 front-month contract. The Henry Hub index lost traction on outlooks of warmer temperatures for the US and the latest US storage report that showed a supply surplus despite being in the midst of the peak demand season.

ETHANE: stable at 26.25 cents/gal
Ethane spot prices were stable on Friday as prices are still at historic lows.

AROMATICS: toluene up at $4.25-4.40/gal, mixed xylene tighter at $4.31-4.35/gal
US toluene spot prices ended on Friday in a weekly high range. Price discussions were up from $4.22-4.33/gal FOB (free on board), the previous session. Meanwhile, prompt mixed xylene (MX) traded up at $4.315/gal and $4.35/gal FOB ITC during the day. The MX trades took spot levels within a tighter band compared with $4.27-4.35/gal FOB on Thursday.

OLEFINS: Nov: ethylene bid lower at 49.25 cents/lb, RGP bid flat at 49 cents/lb
US ethylene for November was bid lower against an offer at 50.75 cents/lb. Refinery-grade propylene (RGP) was bid flat. No offers were heard. RGP traded at 49.50 cents/lb on Wednesday.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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