EVENING SNAPSHOT - Americas Markets Summary

17 December 2012 23:00  [Source: ICIS news]

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

CRUDE: Jan WTI: $87.20/bbl, up 47 cents; Feb Brent: $107.64/bbl, down 54 cents
NYMEX WTI crude futures worked higher, extending Friday’s gains in response to signs of progress regarding negotiations to resolve US budget issues. Overall market participation was thin ahead of Wednesday’s expiration of January contracts.

RBOB: Jan: $2.6546/gal, down 0.75 cent/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices weakened slightly as demand was thin moving into the holiday season.

NATURAL GAS: Jan: $3.358/MMBtu, up 4.4 cents
A reversal to cooler temperatures sustained support on the US natural gas futures price on the NYMEX. Trading was held in mostly positive territory throughout the day as cold weather patterns helped boost expectations of demand.

ETHANE: higher at 23.25 cents/gal
Ethane spot prices rebounded from all-time lows last week as the restart of several crackers helped bolster demand.

AROMATICS: toluene flat at $4.35-4.55/gal, mixed xylene up at $4.70-4.90/gal
Prompt toluene spot prices were stable to start the week. However, prompt mixed xylene (MX) spot prices were discussed 5 cents/gal higher from $4.65-4.85/gal FOB (free on board) from the previous session.

OLEFINS: Dec ethylene higher at 55.25 cents/lb, Dec RGP higher at 49.5-51.0 cents/lb
Sources said a deal for December ethylene was heard done at 55.25 cents/lb, up from deals done the previous week between 53.50 and 54.25 cents/lb, mostly on higher feedstock ethane costs. 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

By: Staff Reporter
+44 20 8652 3214

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