27 December 2012 17:54 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $90.71/bbl, down 27 cents; Feb Brent: $110.47/bbl, down 60 cents
NYMEX WTI crude futures drifted lower on sentiment that Wednesday’s rally had been overdone and worries that the US economy will suffer if political leaders do not reach a budget agreement before year-end.
RBOB: Jan: $2.8104, down 0.54 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were slightly weaker after Wednesday’s settlement at more than 6.00 cents/gal higher. Traders awaited fresh inventory data from the Energy Information Administration (EIA) to be released on Friday.
NATURAL GAS: Jan: $3.371/MMBtu, down 2.1 cents
NYMEX natural gas futures edged down through Thursday morning trade on low volumes, as fluctuating weather forecasts and low demand fundamentals through the holiday season created market uncertainty.
ETHANE: lower at 24.50 cents/gal
Ethane spot prices weakened during morning trading as offers were chasing lower bids in a very quiet market.
For more pricing intelligence please visit www.icispricing.com
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