07 January 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $93.19/bbl, up 10 cents; Feb Brent: $111.40/bbl, up 9 cents
NYMEX WTI crude futures posted light gains at the end of a thinly traded session, which saw prices move within a narrow range despite weakness in the stock market. Crude prices have been responding to the reported expansion of the Seaway Pipeline, which will move oil from the bottleneck at Cushing, Oklahoma, to the Gulf coast refining region.
RBOB: Feb: $2.7774/gal, up 1.31 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures were slightly up on Monday. However, prices were under pressure from high inventory levels reported last week.
NATURAL GAS: Feb: $3.266/MMBtu, down 2.1 cents
NYMEX natural gas futures closed on Monday trading down several cents across the near-term contract curve, despite rising through the morning session, as fluctuating weather forecasts increased demand unpredictability for the rest of January.
ETHANE: lower at 22.50 cents/gal
Ethane spot prices were lower as cracker outages continued to thin demand.
AROMATICS: toluene, flat at $4.30-4.40/gal; mixed xylene, lower at $4.72-4.75/gal
Prompt toluene activity was held to offers during the day. However, January prices were unchanged from the previous session. Meanwhile, January mixed xylene (MX) prices were discussed within a slightly lower range compared with $4.74-4.76/gal FOB (free on board) from the previous session.
OLEFINS: ethylene up at 62.25 cents/lb, PGP up at 68.75 cents/lb
US ethylene for January traded higher compared with deals done at 59.500-59.875 cents/b last week. Meanwhile, polymer-grade propylene (PGP) for January traded up from a deal at 68.25 cents/lb on Friday.
For more pricing intelligence please visit www.icispricing.com
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