EVENING SNAPSHOT - Americas Markets Summary

28 January 2013 23:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Mar WTI: $96.44/bbl, up 56 cents; Mar Brent: $113.48/bbl, up 20 cents
NYMEX WTI crude futures recouped early lows and moved into positive territory, tracking a rally in gasoline RBOB futures. Growing investors’ optimism regarding an economic recovery provided underlying support.

RBOB: Feb: $2.9348/gal, up 5.94 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled higher as Hess said it will exit the refining business and sell its Port Reading refinery in New Jersey as well as its 20 storage terminals in the US and Caribbean.

NATURAL GAS: Feb: $3.289/MMBtu, down 15.5 cents
The front month contract on the NYMEX natural gas futures market started the new trading week by dropping 4.5% to hit a 12-day low. Near-term demand expectations fell on the back of overnight weather forecasts predicting warmer than average weather extending across most of the lower 48 states into mid-February.

ETHANE:  lower at 23.55 cents/gal
Ethane spot prices tumbled for the first time in over a week on a continued supply overhang.

AROMATICS: benzene tighter at $4.73-4.78/gal
Prompt benzene for February was heard tighter at $4.73-4.78/gal FOB, compared with $4.70-4.82/gal earlier in the day as offers continued to fall on weaker demand.

OLEFINS: Feb ethylene offer up at 69 cents/lb, PGP flat at 76 cents/lb
US ethylene for February was offered up from January deals done at 66.75-68.25 cents/lb last week with no bids. No polymer-grade propylene (PGP) bid/offers were heard. PGP for February traded on Friday at 76 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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