18 January 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $95.56/bbl, up 7 cents; Mar Brent: $111.89/bbl, up 79 cents
NYMEX WTI crude futures posted light gains driven by a rally in the refined products and talk of a potential deal in Congress to extend the debt ceiling by three months. Prices also received a boost from upbeat economic data from China and the monthly International Energy Agency (IEA) report suggesting a tighter oil market.
RBOB: Feb: $2.7968/gal, up 2.84 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to rise on a higher energy complex. The US Department of Labor said the national unemployment rate ended 2012 lower than where it began, which also gave gasoline futures a boost.
NATURAL GAS: Feb: $3.566/MMBtu, up 7.2 cents
NYMEX natural gas futures surged up 2% from start of trade to settle at a six week high on the back of positive demand indicators stemming from colder weather forecasts for the coming weeks.
ETHANE: higher at 25.00 cents/gal
Ethane spot prices continued to rise, tracking a stronger energy complex.
AROMATICS: toluene wider at $4.05-4.20/gal; mixed xylene tighter at $4.40-4.45/gal
Prompt n-grade toluene prices were discussed at $4.05-4.20/gal FOB (free on board) on Friday, sources said. The range was wider compared with $4.10-4.20/gal FOB the previous day, as bids came down. Meanwhile prompt mixed xylene (MX) prices were discussed within tighter range as offers came down. The range was tighter compared with $4.40-4.50/gal FOB the previous day.
OLEFINS: ethylene offer up at 68 cents/lb, PGP flat at 74 cents/lb
US ethylene for January was offered up from deals done at 65.25-66.75 cents/lb on Thursday, while polymer-grade propylene (PGP) for January traded flat with deals done at 74 cents/lb the previous day.
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