06 December 2012 23:30 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $86.26/bbl, down $1.62; Jan Brent: $107.03/bbl, down $1.78
NYMEX WTI crude futures finished down for the third consecutive session as the euro fell against the dollar in response to a poor economic outlook for the eurozone. The refined products also pressured the crude complex, also extending the losses from the previous day in response to high inventories.
RBOB: Jan: $2.5969, down 4.09 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices continued to fall despite an encouraging jobless benefits report. RBOB futures influenced by Wednesday’s Energy Information Administration (EIA) inventory report, which showed a larger-than-expected build of 7.8m bbl in gasoline stockpiles for the week ended 30 November.
NATURAL GAS: Jan: $3.666/MMBtu, down 3.4 cents
Natural gas futures prices on the NYMEX closed lower on Thursday, after a volatile day of trading following the release of the US Energy Information Administration (EIA) inventory report. Despite the drawdown in storage levels for the reporting week, key demand regions in the northeast show warmer than normal temperatures, which could stave off further gas consumption.
ETHANE: lower at 22.875 cents/gal
Ethane spot prices fell below the 23 cent/gal barrier on Thursday, setting another all time low.
AROMATICS: toluene tighter at $4.40-4.50/gal, mixed xylene tighter at $4.65-4.75/gal
US n-grade toluene spot prices moved to within a tighter range during the day, as offers came down the second day. The afternoon range was narrower compared with $4.40-4.60/gal FOB (free on board) late Wednesday. For mixed xylene (MX), prompt spot prices were also tighter, as bids moved higher. The MX range narrowed from $4.55-4.75/gal FOB the previous session.
OLEFINS: ethylene up at 52.375 cents/lb, RGP bid up at 49 cents/lb
US ethylene for December traded up from Tuesday amid talk of operational problems at two crackers in Louisiana. Refinery-grade propylene (RGP) for December was bid up compared with the previous day. 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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