04 December 2012 23:40 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $88.50/bbl, down 59 cents; Jan Brent: $109.84/bbl, down $1.08
NYMEX WTI crude futures posted losses after three consecutive up sessions on sentiment that the gains had been overdone and on concerns regarding the US fiscal cliff, with its potential impact on energy demand. Somewhat upbeat eurozone news propped up the euro, keeping the crude losses in check.
RBOB: Jan: $2.6890, down 3.75 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices fell as crude futures dropped. Trading also reacted to predictions that the US Energy Information Administration (EIA) inventory data will show a build up of gasoline stockpiles when it is released on Wednesday.
NATURAL GAS: Jan $3.539/MMBtu, down 5.2 cents
The front month on the NYMEX natural gas market continued to slide through Tuesday afternoon trading, ending the day down 1.4% as expectations of light demand due to mild weather offset nuclear power outages in the southeast and western regions.
ETHANE: lower at 24.00 cents/gal
Ethane spot prices continued to fall to new lows, as inventories were at historic highs.
AROMATICS: toluene up at $4.40-4.70/gal, mixed xylene up at $4.55-5.00/gal
US n-grade toluene spot prices were for the second day in a row on the back of tight supplies and production issues. The range was up from $4.30-4.40/gal FOB (free on board) from the previous session. For mixed xylene (MX), prompt spot prices were up for the second consecutive session. The afternoon range was up from $4.50-4.70/gal FOB the previous day.
OLEFINS: ethylene flat at 50.75 cents/lb, RGP offer flat at 52.50 cents/lb
US ethylene for December traded on the low end of deals done at 50.625-51.750 cents/lb last week. Refinery-grade propylene (RGP) for December was offered flat with no bids. RGP for November traded last week at 49.00-49.50 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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