EVENING SNAPSHOT - Americas Markets Summary

24 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: Mar WTI: $95.95/bbl, up 72 cents; Mar Brent: $113.28/bbl, up 48 cents
NYMEX WTI crude futures rose, tracking a rally in the stock market in response to upbeat economic data from China and the eurozone, as well as a decline in US jobless claims and a jump in manufacturing. The gains were kept in check by the weekly supply statistics from the US Energy Information Administration (EIA), which showed a much greater than forecasted build in crude and distillate inventories, although gasoline stocks fell contrary to expectations. 

RBOB: Feb: $2.8629/gal, up 2.91 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled higher after the EIA report showed an unexpected build-up of gasoline consumption and a drop in inventories for the week ended 18 January. A drop in jobless claims also boosted gasoline futures as positive jobs data means demand for commodities could rise.

NATURAL GAS: Feb: $3.446/MMBtu, down 10.8 cents
NYMEX natural gas futures extended their recent losing streak into a third consecutive day, despite the release of positive consumption data in the EIA’s latest gas stocks report as traders continued to focus on warmer weather predictions for the near term, which undermined demand expectations.

ETHANE: higher at 26.00 cents/gal
Ethane prices ticked slightly higher on Thursday, following slight upticks in crude and other energy commodities.

AROMATICS: toluene tighter at $4.10-4.30/gal, mixed xylene up at $4.43-4.55/gal
Prompt n-grade toluene prices moved within a closer range during the day as bids firmed. The n-grade toluene range was tighter compared with $4.05-4.30/gal FOB. Prompt mixed xylene (MX) prices were discussed at higher during the day. The MX range was up from $4.35-4.45/gal FOB the previous session.

OLEFINS: ethylene up at 68.25 cents/lb, Feb PGP offer up at 77.50 cents/lb
US ethylene for January traded up from 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

By: Staff Reporter
+44 20 8652 3214

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