14 December 2012 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $86.73/bbl, up 84 cents; Jan Brent: $109.15/bbl, up $1.24
NYMEX WTI crude futures closed out the week in positive territory, responding to reports showing growth in China’s manufacturing sector and tamed inflationary pressure in the US, which should allow the Fed to pursue further economic stimulus. The euro shifted higher against the dollar, also providing support, but lack of confidence in the political process to resolve the budget crisis kept the rally in check.
RBOB: Jan: $2.6621, up 6.00 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled higher as it corrected recent market weakness. A positive report on industrial production numbers for November also boosted RBOB futures.
NATURAL GAS: Jan: $3.314/MMBtu down 3.3 cents
NYMEX natural gas futures settled for the week with a 1% decline through Friday trading, taking the front month contract to a fresh 10-week low, as forecasts for above average temperatures through December continue to limit near term demand expectations.
ETHANE: stable at 22.75 cents/gal
Ethane spot prices were steady on Friday as Shell, Flint Hills Resources and ExxonMobil all announced cracker restarts this week.
AROMATICS: US toluene stable at $4.35-4.55/gal, mixed xylene flat at $4.65-4.85/gal
Market discussions were thin for n-grade toluene. As a result, spot prices were flat from the previous session. Meanwhile, mixed xylene prices also held steady, following thin market activity.
OLEFINS: Dec ethylene bid higher at 54 cents/lb, Dec RGP bid flat at 49.50 cents/lb
US ethylene for December was bid higher compared with the previous day with no offers. Refinery-grade propylene (RGP) for December was last heard bid at 49.50 cents/lb against an offer at 51 cents/lb.
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