28 December 2012 21:38 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $90.80/bbl down by 7 cents; Feb Brent: $110.62/bbl, down by 18 cents
NYMEX WTI crude futures posted light losses in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a much smaller-than-forecasted drawdown in crude stocks, but a substantial build in gasoline and distillate inventories. Prices were also under pressure from weakness in the stock market and the dollar firming against the euro. Market participants kept an eye on Washington politicians and the unresolved budget negotiations.
RBOB: Jan: $2.7999, down by 2.14 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled lower after the US Energy Information Administration (EIA) inventory report showed a larger-than-expected build-up of gasoline inventories last week and a drop in gasoline consumption.
NATURAL GAS: Feb: $3.469/MMBtu, up by 5.7 cents
The February contract began its first day as the front month on the NYMEX natural gas market with a near 6 cent increase, boosted by weather forecasts predicting colder-than-previously anticipated temperatures across high consumption regions through the next 10 days.
ETHANE: 24.50 cents/gal
Ethane spot prices were at 24.50 cents/gal, but the market remained very quiet ahead of year’s end.
For more pricing intelligence please visit www.icispricing.com
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