EVENING SNAPSHOT - Americas Markets Summary

03 January 2013 22:29  [Source: ICIS news]

HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Feb WTI: $92.92/bbl, down 20 cents; Feb Brent: $112.14/bbl, down 33 cents
NYMEX WTI crude futures posted light losses, tracking a dip in the stock market on sentiment that the previous day’s spike had been overdone. The dollar extended the gains against the euro, and an upbeat job growth report only provided temporary support. In electronic trading, WTI traded either side of $92.80/bbl in response to the weekly supply statistics from the American Petroleum Institute (API) showing a much greater than forecasted drawdown in crude stocks but a substantial build in gasoline and distillate inventories.

RBOB: Feb: $2.7977/gal, up 0.26 cents/gal
Reformulated blendstock for oxygen blending (RBOB) futures were slightly higher as traders awaited December jobs data and last week’s gasoline inventory numbers, set to be released on Friday.

NATURAL GAS: Feb: $3.198/MMBtu, down 3.5 cents
The front month on the NYMEX natural gas market fell for the third consecutive day on Thursday to a fresh 14 week low, as forecasts for milder weather over the next few weeks and continued high inventory levels kept seasonal demand fundamentals low.

ETHANE: lower at 22.50 cents/gal
Ethane spot prices dipped lower, even as Williams, Eastman and Dow Chemical all announced cracker restarts.

AROMATICS: toluene tighter at $4.35-4.45/gal, Mixed xylene down at $4.74-4.76/gal
Prompt n-grade toluene spot prices were discussed within a tighter range during the day as bids moved higher. The range narrowed compared with $4.25-4.45/gal FOB (free on board) from the previous session. Mixed xylene traded at for January delivery at $4.75/gal FOB during the day. The deal was on the low end of the previous day’s range of $4.75-4.85/gal FOB.

OLEFINS: ethylene flat at 59.50 cents/lb, PGP offer up at 67.75 cents/lb
US ethylene traded flat compared with Wednesday, while polymer-grade propylene (PGP) for January was offered higher from a deal at 66.50 cents/lb the previous day. No bids were heard.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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