26 December 2012 22:40 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end-of-day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $90.98/bbl, up $2.37; Feb Brent: $111.07/bbl, up $2.27
NYMEX WTI crude futures surged despite weakness in the stock market and in extremely thin volume led by hopes of a break in the stalemate on US budget negotiations. A rally in the refined products also provided support with the upside momentum breaking through technical barriers and triggering buy stops.
RBOB: Jan: $2.8158, up 6.52 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were stronger after trading was closed on Tuesday for the Christmas holiday. Stronger crude values also pushed RBOB futures higher.
NATURAL GAS: Jan: $3.392/MMBtu, up 4.6 cents
Natural gas futures on the NYMEX closed nearly up five cents, as trading volumes were light following a holiday session. Weather forecasts showing warm temperatures in the near term were changing demand outlooks for gas trading, although short-covering by traders as the January ’13 contract prepares to expire gave support to the front month.
ETHANE: stronger at 25.75 cents/gal
Ethane spot prices were stronger from Friday’s trades of 25 cents/gal as it tracked the gains in crude oil futures. Spot ethane prices held at 25.75 cents/gal throughout the day.
For more pricing intelligence please visit www.icispricing.com
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