EVENING SNAPSHOT - Americas Markets Summary

21 December 2012 22:52  [Source: ICIS news]

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

CRUDE: Feb WTI: $88.66/bbl, down $1.47; Feb Brent: $108.97/bbl, down $1.23
NYMEX WTI crude oil prices dropped sharply, following stocks. US policymakers appeared no closer to finding a resolution before the end of the year to the “fiscal cliff”, a set of spending cuts and tax hikes that threaten to send the US economy back into recession in 2013.

RBOB: Jan: $2.7347, down 1.96 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled lower after making gains of more than 7.00 cents/gal for the past three trading sessions.

NATURAL GAS: Jan: 3.451/MMBtu down 1.1 cents
The front month on the NYMEX natural gas market closed the week down just over 1 cent from start of Friday trade, falling despite cooling overnight weather forecasts as lower trading volumes represented expectations of slowing demand from industrial users 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: toluene flat at $4.35-4.50/gal, mixed xylene flat at $4.50-4.70/gal
Prompt n-grade toluene and mixed xylene (MX) prices were flat during the day. The stable market comes with most aromatics market sources already out ahead of the Christmas holidays.

OLEFINS: Dec ethylene bid up at 59.25 cts/lb, Jan PGP offer down at 66.50 cts/lb
December ethylene was bid up from 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

By: Staff Reporter
+44 20 8652 3214

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