EVENING SNAPSHOT - Americas Markets Summary

14 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: $94.14/bbl, up 58 cents; Feb Brent: $111.88/bbl, up $1.24
NYMEX WTI crude futures rose in choppy action, driven by a weaker dollar and a healthy rally in heating oil futures. Despite a brighter global economic picture, the crude gains were kept in check by worries regarding contentious Congressional negotiations about raising the debt ceiling. Brent outperformed WTI ahead of the North Sea contract going off the board on Wednesday.

RBOB: Feb: $2.7541/gal, up 1.46 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) futures prices settled higher as it tracked the gains in crude futures. A few refinery glitches over the weekend also lent support to gasoline futures.

NATURAL GAS: Feb: $3.373/MMBtu, up 4.6 cents
NYMEX natural gas futures closed the first trading session of the week, up for the third consecutive day, boosted by colder forecasts for the east coast and midwest high consumption regions for the last week of the month. 

ETHANE: stable at 21.75
Ethane spot prices were stable from last week as over supply continues to weigh on the market.

AROMATICS: toluene tighter at $4.15-4.35/gal, mixed xylene up at $4.40-4.52/gal
January n-grade toluene spot prices moved to a tighter range during the day, sources said. The toluene range was narrower compared with $4.05-4.35/gal on Friday. Prompt mixed xylene (MX) spot prices rebounded during the day. The afternoon range was up from $4.30-4.50/gal FOB (free on board) the previous session.

OLEFINS: ethylene up at 65 cents/lb, PGP up at 72.25 cents/lb
US ethylene for January traded up from 64.25 cents/lb on Friday. Polymer-grade propylene (PGP) for January traded up from a deal at 72 cents/lb on Friday with no bids.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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