24 January 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $96.30/bbl, up $1.07; Mar Brent: $113.33/bbl, up 53 cents
NYMEX WTI crude futures recouped a portion of the previous session’s losses, tracking a rally in the stock market in response to upbeat economic data from China and the eurozone and a report showing a decline in US weekly jobless claims. The crude gains were kept in check by a much greater than forecasted build in crude inventories revealed by the weekly supply statistics from the US Energy Information Administration (EIA).
RBOB: Feb: $2.8466/gal, up 1.28 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded higher midday after the EIA report showed an unexpected build up of gasoline consumption and a drop in inventories for the week ended 18 January.
NATURAL GAS: Feb: $3.527/MMBtu, down 2.7 cents
NYMEX natural gas futures edged lower for a third consecutive day as traders continued to focus on shifting weather forecasts for the coming weeks.
ETHANE: stable at 25.5 cents/gal
Ethane spot prices were stable in early trading but remained low due to a supply overhang.
AROMATICS: benzene wider at $4.87-4.95/gal
Prompt benzene spot prices moved within a wider range this morning as offers moved higher while bids held steady. The morning range widened from $4.87-4.93/gal FOB the previous day.
OLEFINS: ethylene flat at 66.75 cents/lb, Feb PGP offer up at 76.50 cents/lb
US ethylene for January traded on the high end of deals done at 64.25-66.75 cents/lb last week. February polymer-grade propylene (PGP) was offered up from 75.50 cents/lb the previous day with no bids.
For more pricing intelligence please visit www.icispricing.com
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