16 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: $94.24/bbl, up 96 cents; Feb Brent: $110.61/bbl, up 31 cent
NYMEX WTI crude futures rose sharply in response to the weekly supply statistics from the Energy Information Administration (EIA), showing a contrary-to-forecasted drawdown in crude stocks. WTI also received support from the EIA data, revealing a build in refined products, which was below expectations. Brent underperformed on expiration day for the February contract.
RBOB: Feb: $2.7214/gal, up 1.48 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher despite the EIA data showing a build-up of gasoline inventories for the seventh consecutive week.
NATURAL GAS: Feb: $3.435/MMBtu, down 2.0 cents
Henry Hub futures on the NYMEX ticked lower by a couple of pennies after a day of wayward trading. The natural gas benchmark was pushed lower starting midday after changing forecasts showed warmer temperatures. Traders pushed the February 2013 front month on a slight recovery during the afternoon, but the contract settled slightly lower than the previous session.
ETHANE: higher at 23.00 cents/gal
Ethane spot prices rose, following strength in crude and other energy commodities.
AROMATICS: toluene wider at $4.10-4.25/gal, mixed xylene down at $4.40-4.50/gal
Prompt toluene prices moved within a wider range as bids came down from $4.15/gal FOB (free on board) from the previous session. Offers held steady at $4.25/gal. Meanwhile, January mixed xylene (MX) prices were discussed lower compared with $4.54-4.56/gal FOB from the previous day. Trade sources said January toluene and MX prices were at parity with February.
OLEFINS: ethylene up at 65.25 cents/lb, PGP up at 74 cents/lb
US ethylene for January traded up from deals done at 64.75-65.00 cents/lb on Tuesday. Polymer-grade propylene (PGP) for January traded up from a deal done at 72.875 cents/lb on Tuesday.
For more pricing intelligence please visit www.icispricing.com
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