15 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: $93.28/bbl, down 86 cents; Feb Brent: $110.30/bbl, down $1.58
NYMEX WTI crude futures posted losses as the euro shifted down against the dollar late in the session. Concerns regarding the Congressional debate about raising the debt ceiling also pressured the energy complex. Brent posted steep losses on length liquidation ahead of Wednesday’s contract expiration. In electronic trading, WTI rose towards $93.45/bbl after the weekly supply statistics from the API revealed a much-less-than-forecasted build in crude inventories.
RBOB: Feb: $2.7066/gal, down 4.75 cents/gal
Reformulated gasoline blendstock for oxygen blending (RBOB) gasoline futures prices fell as traders expect another build-up of gasoline inventories in the US Energy Information Administration (EIA) report to be released on Wednesday. Concerns about the debt ceiling debate also weakened futures prices.
NATURAL GAS: Feb: $3.455/MMBtu, up 8.2 cents
NYMEX natural gas futures finished Tuesday trading with gains for a fourth straight day, settling for the day up 2.4% as traders continued to focus on the onset of below-average temperatures across the eastern half of the continent in the near term.
ETHANE: higher at 22.00 cents/gal
Ethane spot prices rebounded slightly on higher offers. A supply overhang continues to weigh on the market.
AROMATICS: toluene tighter at $4.15-4.25/gal
Prompt toluene spot prices were discussed within a more narrow range during the day. The afternoon range was tighter compared with $4.15-4.35/gal FOB (free on board) from the previous session.
OLEFINS: ethylene flat at 65 cents/lb, PGP offer up at 73 cents/lb
US ethylene for January traded on the high end of deals done at 64.25-65.00 cents/lb on Monday. Polymer-grade propylene (PGP) for January was offered up from a deal done at 72.25 cents/lb on Monday with no bids.
For more pricing intelligence please visit www.icispricing.com
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections