02 January 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $92.98/bbl, up $1.16; Feb Brent: $112.01/bbl, up 90 cents
NYMEX WTI crude futures rose sharply, tracking a broad rally across equity and commodity markets as investors responded to the last-minute fiscal agreement reached in Washington that removed some of the uncertainties. WTI topped out at $93.87/bbl before retreating.
RBOB: Feb. $2.8034/gal, up 4.17 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures rose, following the approval of a deal to avert the fiscal cliff by US Congress. Positive manufacturing and jobs data also lent support to the early rally.
NATURAL GAS: Feb: $3.201/MMBtu, down 15 cents
NYMEX natural gas futures began 2013 declining sharply, down nearly 4.5% at midday from the start of trade as weather forecasts continued to predict milder than normal temperatures for much of the country over the next two weeks.
ETHANE: lower at 24.25 cents/gal
Ethane spot prices were slightly lower, even as other energy commodities rallied in early trading.
AROMATICS: benzene up at $5.15-5.23/gal
US benzene spot prices for January were discussed within a slightly higher range on Wednesday morning. The January range was up from $5.10-5.20/gal FOB (free on board) from the previous session.
OLEFINS: ethylene offer up at 60.50 cents/lb, PGP offer up at 68.50 cents/lb
Spot ethylene was offered higher against a 59.625 cent/lb bid, while polymer-grade propylene (PGP) for January was offered at 68.50 cents/lb, also with no bids.
For more pricing intelligence please visit www.icispricing.com
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