EVENING SNAPSHOT - Americas Markets Summary

11 December 2012 22:35  [Source: ICIS news]

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

CRUDE: Jan WTI: $85.79/bbl, up 23 cents; Jan Brent: $108.01/bbl, up 68 cents
NYMEX WTI crude futures rose for the first time in five sessions, tracking a rally in the stock market and the euro shifting higher against the dollar. The market will be keeping an eye on the OPEC meeting on Wednesday, which is expected to keep production quotas unchanged.

RBOB: Jan: $2.6105, up 1.24 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices ended higher for the second consecutive session. The increase came despite higher stockpiles expectations in tomorrow’s US Energy Information Administration (EIA) inventory report.

NATURAL GAS: Jan: 3.412/MMBtu, down 4.8 cents
The front month on the NYMEX natural gas market fell for the fourth consecutive day to its lowest level since end-October as continuing forecasts for above-average temperatures across high consumption regions through December and the return of previously offline  nuclear capacity kept traders bearish. 

ETHANE: lower at 22.5 cents/gal
Ethane prices drifted lower in late trading, setting another historic low.

AROMATICS: toluene flat at $4.45-4.60, mixed xylene up at $4.75-5.15/gal
US toluene discussions were thin during the day. As a result, prices were unchanged from the previous session. US mixed xylene (MX) prices moved higher alongside tight supplies. The range was up from $4.65-4.90/gal FOB (free on board) the previous day.

OLEFINS: ethylene up at 54.25 cents/lb, Jan RGP bid up at 49.50 cents/lb
US ethylene for December traded up from Monday, while refinery-grade propylene (RGP) for December was bid higher compared with the previous day. No offers were heard. RGP for December traded at 49 cents/lb last week.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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