28 December 2012 17:54 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $90.64/bbl, down by 23 cents; Feb Brent: $110.17/bbl, down by 63 cents
NYMEX WTI crude futures drifted lower in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a much smaller-than-forecast drawdown in crude stocks, but a substantial build in gasoline and distillate inventories. The report also revealed declining demand for distillate and gasoline. Prices were also under pressure from weakness in the stock market and the dollar firming against the euro.
RBOB: Jan: $2.8050, down by 1.63 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices weakened following the EIA inventory report, which showed a larger-than-expected build-up of gasoline inventories last week.
NATURAL GAS: Feb: $3.453/MMBtu, up by 4.1 cents
Natural gas futures were edging up slightly on the first day of February ’13 as the prompt month. Colder temperatures forecasted for much of the US have kept the Henry Hub benchmark firm, but more-than-adequate storage supply has placed a ceiling on price support.
ETHANE: higher at 24.50 cents/gal
Ethane spot prices were slightly higher midday, but the market remained very quiet ahead of year’s end.
For more pricing intelligence please visit www.icispricing.com
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