08 January 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $93.15/bbl, down 4 cents; Feb Brent: $111.94/bbl, up 54 cents
NYMEX WTI crude futures posted light losses in choppy action, tracking a dip in the stock market ahead of the release of fourth-quarter corporate earnings that are expected to be unimpressive and uneven. In electronic trading afterwards, WTI remained unchanged after the weekly supply statistics from the American Petroleum Institute (API) revealed a much-greater-than forecasted build in crude and refined products.
RBOB: Feb: $2.7944/gal, up 1.7 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices were higher as Motiva said its new crude unit was still down for repairs following a small leak in the unit last weekend.
NATURAL GAS: Feb: $3.218/MMBtu, down 4.8 cents
NYMEX natural gas futures fell for a second consecutive day over Tuesday trading as predictions of well-above-average temperatures across high consumption regions over the next two weeks continued to leave traders in a pessimistic mood.
ETHANE: lower at 22.00 cents/gal
Ethane spot prices fell to a historic low on Tuesday as oversupply and cracker outages weigh on prices.
AROMATICS: toluene down at $4.14-4.15/gal, mixed xylene down at $4.44-4.46/gal
Prompt toluene spot prices declined during the day as activity returned to the market. Discussions were down from the previous day’s range of $4.30-4.40/gal FOB (free on board). Meanwhile, mixed xylene (MX) discussions declined throughout the day. A January spot deal was heard at $4.65/gal, below the previous day’s band of $4.72-4.75/gal FOB. By the afternoon spot prices declined even further.
OLEFINS: ethylene up at 63.75 cents/lb, PGP up at 70 cents/lb
US ethylene for January traded up from deals done at 62.25-63.00 cents/lb on Monday, while polymer-grade propylene (PGP) for January traded higher compared with deals done at 68.75-69.00 cents/lb the previous day.
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