09 January 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $93.10/bbl, down 5 cents; Feb Brent: $111.76/bbl, down 18 cents
NYMEX WTI crude futures posted light losses in response to the weekly supply statistics from the Energy Information Administration (EIA). The report showed a build in crude stocks in line with expectations but a much-greater-than-forecasted build in gasoline and distillate inventories. Rising US oil production also pressured the energy complex, but the dip was kept in check by a rally in the stock market.
RBOB: Feb: $2.7789/gal, down 1.55 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices settled lower after the EIA’s report showed a build of 7.4m bbl in gasoline inventories to reach 233.1m bbl for the week ended 4 January.
NATURAL GAS: Feb: $3.113/MMBtu, down 10.5 cents
The front month contract on the NYMEX natural gas market ended Wednesday, trading down 3.2% to a new 16 week low. This extended losses registered across the early part of the week as weather forecasts for the coming days shifted to increasingly warmer, lowering demand expectations.
ETHANE: lower at 21.5 cents/gal
Ethane prices drifted lower on Wednesday as oversupply continues to push prices down.
AROMATICS: toluene wider at $4.10-4.30/gal, mixed xylene wider $4.40-4.55/gal
Prompt toluene and mixed xylene (MX) markets moved within a wider range during the day. Toluene prices were further apart compared with $4.14-4.15/gal FOB the previous day, while MX prices widened from $4.44-4.46/gal FOB.
OLEFINS: ethylene up at 64.75 cents/lb, PGP up at 71 cents/lb
US ethylene for January traded up from deals done at 63.50-63.75 cents/lb on Tuesday, while polymer-grade propylene (PGP) for January traded up from deals done at 69-70 cents/lb the previous day.
For more pricing intelligence please visit www.icispricing.com
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