EVENING SNAPSHOT - Americas Markets Summary

04 January 2013 22:57  [Source: ICIS news]

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

CRUDE: Feb WTI: $93.09/bbl, up 17 cents; Feb Brent: $111.31/bbl, down 83 cents
NYMEX WTI crude futures posted light gains in response to the weekly supply statistics from the Energy Information Administration (EIA) showing oil inventories plunging by 11m bbl in the last week of 2012, mainly as a result of lower foreign imports and end-of-year destocking for tax purposes. Distillate and gasoline inventories, however, rose more than forecasted, countering the crude drawdown and keeping the crude rally in check.

RBOB: Feb: $2.7643/gal, down 3.34 cents/gal
Reformulated blendstock for oxygen blending (RBOB) futures fell after the EIA data showed gasoline inventories gained for the fifth consecutive week and consumption dropped last week.

NATURAL GAS: Feb: $3.287/MMBtu, up 8.9 cents
The front month contract on the NYMEX natural gas market broke a three-day losing sequence to end the week up nearly 9 cents despite ongoing near term warm weather forecasts. The rises came in response to the release of the EIA’s latest gas storage report, which showed a withdrawal larger than the five year average from US gas inventories over the week ended 28 December.

ETHANE: higher at 22.63 cents/gal
Ethane spot prices rose in early trading as the restart of several crackers supported the rally.

AROMATICS: toluene down at $4.30-4.40/gal, mixed xylene flat at $4.74-4.76/gal
Prompt n-grade toluene prices were discussed within a lower range during the day. Discussions were down from $4.35-4.45/gal FOB (free on board) from the previous session. Trade sources said toluene supplies were ample, but buyer interest was thin. Meanwhile, mixed xylene traded for the second day at $4.75/gal FOB.

OLEFINS: ethylene bid up at 60 cents/lb, PGP up at 68.25 cents/lb
US ethylene for January was bid higher compared with deals done at 59.50 and 59.75 cents/lb on Thursday. Meanwhile, polymer-grade propylene (PGP) for January traded up from deals done at 67.00 and 67.50 cents/lb the previous day.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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