13 December 2012 23:16 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $85.89/bbl, down by 88 cents; Jan Brent: $107.91/bbl, down by $1.59
NYMEX WTI crude futures fell in cautious trading as the market turned its attention to the political stalemate in Washington DC over tax increases and spending cuts that are creating a fiscal cliff.
RBOB: Jan: $2.6021, down by 4.44 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices fell, tracking lower crude oil futures. Traders factored in the US Energy Information Administration (EIA) inventory data released on Wednesday, which showed a larger-than-expected build-up of gasoline stockpiles.
NATURAL GAS: Jan: $3.347/MMBtu, down by 3.50 cents/MMBtu
NYMEX natural gas futures fell further through Thursday morning trading as milder weather forecasts continued to undermine near-term demand expectations. Trade also remained bearish, following the US EIA’s weekly gas storage report that showed inventories rebounding last week following a significant withdrawal at the end of November.
ETHANE: stable at 22.75 cents/gal
Ethane prices were stable on Thursday, even as there were several crackers down for maintenance.
AROMATICS: toluene, down at $4.35-4.55/gal; mixed xylene, down at $4.65-4.85/gal
Prompt n-grade toluene spot prices moved down Thursday afternoon, compared with $4.45-4.60/gal from the previous session, following thin market activity. Meanwhile, December mixed xylene prices were also heard lower, compared with $4.84-4.86/gal a day earlier, on the back of thin buying interest.
OLEFINS: Dec ethylene bid lower at 53 cents/lb, Dec RGP bid flat at 49.50 cents/lb
US ethylene for December was bid lower on previous deals against an offer at 55.00 cents/lb. Meanwhile, refinery-grade propylene (RGP) for December was bid flat compared with the previous day against an offer at 51 cents/lb.
For more pricing intelligence, please visit www.icispricing.com
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