29 January 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $97.57/bbl, up $1.13; Mar Brent: $114.36/bbl, up 88 cents
NYMEX WTI crude futures finished up for the second consecutive session, in response to released data showing a strengthening US housing market and a jump in German consumer demand, both of which could translate into improving fuel demand. Stock markets responded positively to the economic optimism, while the euro shifted higher against the dollar. In electronic trading afterward, prices eased towards $97.35/bbl, in response to the weekly supply statistics from the American Petroleum Institute (API), which showed a much greater-than-forecast build in crude and gasoline inventories. A drawdown in distillate stocks kept the slide in check.
RBOB: Feb: $2.9734/gal, up 3.86 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures climbed as it tracked higher crude and as 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: $3.226/MMBtu, down 6.3 cents
NYMEX natural gas futures settled down for a fifth consecutive day as the mild weather outlook for the next two weeks combined with record production levels continue to depress near term demand fundamentals.
ETHANE: higher at 24.5 cents/gal
Ethane spot prices rose, following crude and other energy commodities.
AROMATICS: toluene flat at $4.20-4.30/gal, mixed xylene flat at $4.50-4.60/gal
Aromatics activity was thin during the day, sources said. There were no fresh trades heard. As a result, toluene and mixed xylene prices were stable from the previous session.
OLEFINS: Feb ethylene down at 66 cents/lb, PGP flat at 76 cents/lb
US ethylene for February traded down from January deals done at 66.75-68.25 cents/lb last week. 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
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections