EVENING SNAPSHOT - Americas Markets Summary

05 December 2012 23:23  [Source: ICIS news]

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

CRUDE: Jan WTI: $87.88/bbl, down 62 cents; Jan Brent: $108.81/bbl, down $1.03
NYMEX WTI crude futures finished down in response to the weekly supply statistics from the Energy Information Administration (EIA), showing a much greater than forecast build in gasoline and distillate inventories, overshadowing a much greater than expected drawdown in crude stocks. A healthy bounce in the stock market into positive territory, the euro shifting lower against the dollar and no signs of compromise in the political fiscal cliff drama also had an impact in the movement of oil prices.

RBOB: Jan: $2.6378, down 5.12 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled lower after the US Energy Information Administration (EIA) report showed a larger-than-expected build up of gasoline inventories last week.

NATURAL GAS: Jan: 3.700/MMBtu, up 16.1 cents
Natural gas futures on the NYMEX settled the day up 4.5%, rallying on the back of colder temperature predictions and continued nuclear power outages.

ETHANE: lower at 23.5 cents/gal
Ethane spot prices continued to set all-time lows, as supplies were at historic highs.

AROMATICS: toluene tighter at $4.40-4.60/gal, mixed xylene tighter at $4.55-4.75/gal
US n-grade toluene spot prices moved within a tighter range during the day, as offers came down. The late Wednesday range was narrower compared with $4.40-4.70/gal FOB (free on board). For mixed xylene (MX), prompt spot prices were also tighter, as offers came down. The MX range narrowed from $4.55-5.00/gal FOB the previous session.

OLEFINS: ethylene bid lower at 50.625 cents/lb, RGP bid up at 48.75 cents/lb
US ethylene for December was bid lower from deals on Tuesday against an offer at 51.625 cent/lb. Refinery-grade propylene (RGP) for December was bid up compared with 48 cents/lb on Monday. No offers were heard. RGP for November traded last week at 49.00-49.50 cents/lb.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly