29 January 2013 18:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s midday Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $97.62/bbl, up $1.18; Mar Brent: $114.17/bbl, up 69 cents
NYMEX WTI crude futures extended recent gains, tracking upbeat economic data that showed rising US home prices as well as rising German consumer demand, both of which bodes well for higher fuel demand. WTI topped out at $97.82/bbl before retreating.
RBOB: Feb: $2.9621/gal, up 2.73 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures climbed as it tracked higher crude and the cheaper February futures contract nears its close. News that Hess was closing its New Jersey refinery and exiting the business continued to weigh in on the market.
NATURAL GAS: Feb: $3.238/MMBtu, down 5.1 cents
NYMEX natural gas futures continued to fall in Tuesday morning trade on the February contract’s last day as the front month as the onset of milder weather across most the country continues to depress demand expectations for the near term.
ETHANE: higher at 24 cents/gal
Ethane spot prices rose slightly as traders were looking to secure deals before the end of the month.
AROMATICS: benzene up at $4.73-4.80/gal
Prompt US benzene spot prices were discussed within a slightly higher range in the morning. The morning range was up by a penny from $4.72-4.79/gal FOB (free on board) late on Monday.
OLEFINS: Feb ethylene offer down at 68 cents/lb, PGP flat at 76 cents/lb
US ethylene for February was offered down from 69 cents/lb on Monday against a 65 cent/lb bid. 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
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