26 December 2012 17:49 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $90.96/bbl, up $2.35; Feb Brent: $110.79/bbl, up $1.99
NYMEX WTI crude futures rose sharply in thin holiday liquidity, despite weakness in the stock market on sentiment that US government negotiators will attempt to find a solution to the fiscal cliff before year'snd. The upside momentum also penetrated technical barriers, triggering buy stops. WTI topped out at $91.30/bbl before retreating.
RBOB: Jan: $2.8131, up 6.25 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices traded stronger midday after trading was closed on Tuesday for the Christmas holiday. Stronger crude values also pushed RBOB futures higher.
NATURAL GAS: Jan: $3.370/MMBtu, up 2.4 cents
Natural gas futures were pushing up slightly as the January ’13 front month prepared to expire. Gains further along the curve were just as tepid as a warm front was expected to reverse temperatures for much of the US and stave off heating-related demand.
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