10 January 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $94.03/bbl, up 93 cents; Feb Brent: $112.33/bbl, up 57 cents
NYMEX WTI crude futures rose sharply in response to strong export growth figures from China and reports that Saudi Arabia had trimmed oil production due to lower demand. WTI topped out at $94.70/bbl before the rally was capped.
RBOB: Feb: $2.7927/gal, up 1.38 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) prices began to recover from Wednesday’s losses.
NATURAL GAS: Feb: $3.206/MMBtu, up 9.3 cents
The front month on the NYMEX natural gas market broke a three-day losing streak by surging up nearly 10 cents through Thursday trading, following the release of the Energy Information Administration’s latest gas storage report, which showed a higher than expected decline in US inventories over the week ended 4 January.
ETHANE: lower at 21 cents/gal
Ethane prices fell further as an oversupplied market pushes prices lower.
AROMATICS: benzene up at $4.67-4.76/gal
January benzene spot prices moved higher this morning for the first time in three sessions. Morning discussions were above the previous day’s range of $4.64-4.75/gal FOB (free on board).
OLEFINS: ethylene offer up at 65.75 cents/lb, PGP bid down at 68 cents/lb
US ethylene for January was offered up from deals done at 64-65 cents/lb on Wednesday against a 63.50 cent/lb bid. Polymer-grade propylene (PGP) for January was bid lower from deals done at up to 71.50 cents/lb the previous day with no offers.
For more pricing intelligence please visit www.icispricing.com
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