17 December 2012 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $87.57/bbl, up 84 cents; Feb Brent: $108.30/bbl, up 12 cents
NYMEX WTI crude futures worked higher, tracking a modest rally in the stock market on sentiment that some progress is being made ongoing budget negotiations.
RBOB: Jan: $2.6742/gal, up 1.21 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures rose slightly on news that a deal to avoid the fiscal cliff moved closer to fruition.
NATURAL GAS: Jan: $3.378/MMBtu, up 6.4 cents
Natural gas futures on the NYMEX were pushing up as cold-weather outlooks for the US were promising greater gas-fired power generation and heating demand. The midwestern US was indicating more moderate temperatures for the near term.
ETHANE: higher at 23.25 cents/gal
Ethane spot prices rebounded on Monday as demand was bolstered by the restart of several crackers from maintenance.
AROMATICS: benzene down at $5.10-5.25
Prompt benzene spot prices were moving to the downside early in the day. The morning range for December was wider compared with $5.17-5.25/gal FOB (free on board) on Friday as bids declined.
OLEFINS: Dec ethylene bid at 54 cents/lb, Dec RGP higher at 49.5-51.0 cents/lb
No bids or offers for December ethylene were heard, but ethylene for the first quarter of 2013 was bid at 52 cents/lb with no offers heard. Bids for December refinery-grade propylene (RGP) were steady at 49.5 cents/lb, while offers were heard at 51.0 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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