EVENING SNAPSHOT - Americas Markets Summary

03 December 2012 23:19  [Source: ICIS news]

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

CRUDE: Jan WTI: $89.09/bbl, up 18 cents; Jan Brent: $110.92/bbl, down 31 cents
NYMEX WTI crude futures finished up for the third consecutive session in response to an upbeat report on China’s economic growth and on Middle Eastern geopolitical issues. But the rally was capped by released data showing US manufacturing contracting in November, driving the stock market down. The fiscal cliff drama also kept the gains in check.

RBOB: Jan: $2.7265, down 0.38 cent/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were slightly lower despite higher crude oil settlements and a switch to the January futures contract as the prompt month.

NATURAL GAS: Jan: $3.591/MMBtu, up 3 cents
US natural gas futures on the NYMEX teetered in positive and negative territory throughout the session, as weather forecasts showed mix demand indicators. The January front month settled 3 cents higher from Friday’s closing, reversing two consecutive days of losses derived from the market’s inventory surplus. 

ETHANE: lower at 25.5 cents/gal
Ethane spot prices were lower, hitting another all time low as inventories are at historic high levels

AROMATICS: toluene up at $4.30-4.40/gal, mixed xylene up at $4.50-4.70/gal
US n-grade toluene spot prices were discussed higher to start the week, compared with $4.25-4.40/gal FOB (free on board) from Friday. The increase was attributed to strong demand and tight supply positions in Asia. For mixed xylene (MX), prompt spot prices were also higher on the back of higher prices overseas. The afternoon range was up from $4.27-4.33/gal FOB the previous session.

OLEFINS: ethylene offered lower at 50.625 cents/lb, RGP bid down at 48 cents/lb
US ethylene for December was offered lower against a bid at 50 cents/lb. Refinery-grade propylene (RGP) was bid at 48 cents/lb against an offer at 52.50 cents/lb.  No deals were heard.

For more pricing intelligence please visit www.icispricing.com

By: Tracy Dang
+1 713 525 2653

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