21 December 2012 17:55 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $88.47/bbl, down $1.66; Feb Brent: $108.92/bbl, down $1.28
NYMEX WTI crude oil prices dropped sharply as prospects dimmed that the US government would find a resolution to the “fiscal cliff” before the end of the year, threatening another recession in 2013.
RBOB: Jan: $2.7261, down 2.82 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices began to retreat after settling higher for the past three trading sessions and gaining more than 7.00 cents/gal this week.
NATURAL GAS: Jan: 3.457/MMBtu down 0.5 cents
NYMEX natural gas futures edged downwards through Friday morning trading, with the front month falling half a cent despite a shift cooler in overnight weather forecasts as market activity reacted to the expected slowdown in industrial activity over the coming holiday week.
ETHANE: stable at 25 cents/gal
Ethane spot prices held stable from Thursday as demand strengthened after the recent restart of several crackers.
AROMATICS: benzene down at $5.10-5.20/gal
|Prompt benzene prices were discussed lower early in the day, sources said. The morning range was down from $5.17-5.24/gal FOB (free on board) the previous afternoon.
OLEFINS: Dec ethylene bid flat at 59 cents/lb, Jan PGP offer down at 66.50 cents/lb
December ethylene was bid flat with deals on Thursday. No offers were heard. Polymer-grade propylene (PGP) for January was offered lower compared with the previous day against a bid at 64.75 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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