17 January 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $95.49/bbl, up $1.25; Mar Brent: $111.10/bbl, up $1.42
NYMEX WTI crude futures rose sharply in response to upbeat economic data that showed a jump in housing starts and falling jobless claims. The hostage crisis at a gas plant in Algeria also boosted prices on geopolitical concerns. A rally in gasoline futures also provided support.
RBOB: Feb: $2.7684/gal, up 4.70 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher as it tracked higher crude oil futures and jobless benefit claims that fell to the lowest level in five years. Positive job data means demand for commodities, such as retail gasoline, could increase.
NATURAL GAS: Feb: $3.494/MMBtu, up 5.9 cents
NYMEX natural gas futures closed higher for the sixth consecutive day on the back of positive consumption data in the Energy Information Administration’s (EIA’s) latest weekly gas storage report. US inventories now sit at 81% capacity, their lowest level in six months. Below-average temperatures over the next 10 days should ensure further sizeable withdrawals.
ETHANE: higher at 24.00 cents/gal
Ethane spot prices moved even higher, tracking the rally in crude and other energy commodities.
AROMATICS: US toluene tighter at $4.10-4.20/gal, mixed xylene down at $4.30-4.45/gal
Prompt n-grade toluene spot prices were discussed within a tighter range during the day as offers came down. The range was tighter compared with $4.10-4.25/gal FOB the previous session. Meanwhile, prompt US mixed xylene (MX) spot prices were discussed within a lower range. The MX range was down from $4.40-4.50/gal FOB the previous day.
OLEFINS: ethylene up at 65.375 cents/lb, PGP flat at 74 cents/lb
US ethylene for January traded up from deals done at 65.25 cents/lb on Wednesday, while polymer-grade propylene (PGP) for January traded flat with deals done at 74 cents/lb the previous day.
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)|
Asian Chemical Connections