18 December 2012 18:08 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $87.90/bbl, up 70 cents; Feb Brent: $108.67/bbl, up $1.03
NYMEX WTI crude futures extended recent gains, tracking a rally in the stock market on sentiment that political progress is being made to resolve the fiscal cliff. Refinery problems boosted the refined products and provided support to the crude complex.
RBOB: Jan: $2.6985, up 4.39 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded higher during the morning hours after a fire at Motiva’s Port Arthur refinery in Texas had delayed the restart of one of their crude units.
NATURAL GAS: Jan: $3.396/MMBtu, up 3.8 cents
NYMEX natural gas futures continued to rise through Tuesday morning on the back of Monday’s 4-cent gain as near-term temperature predictions for the west coast shifted cooler for the end of the month
ETHANE: higher at 24.75 cents/gal
Ethane spot prices were higher on stronger demand from the recent restart of several crackers.
AROMATICS: benzene up at $5.15-5.35/gal
Prompt benzene spot prices for December were discussed higher early Tuesday, sources said. The range was up from $5.10-5.25/gal FOB (free on board) from the previous session.
OLEFINS: Dec ethylene up at 55.50 cents/lb, Dec RGP flat at 49.50-51.00 cents/lb
December ethylene traded higher this morning, compared with the previous deal on Monday at 55.25 cent/lb. Meanwhile, December refinery-grade propylene (RGP) was stable, with no change from the previous session.
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