EVENING SNAPSHOT - Americas Markets Summary

31 January 2013 22:58  [Source: ICIS news]

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

CRUDE: Mar WTI: $97.49/bbl, down 45 cents; Mar Brent: $115.55/bbl, up 65 cents
NYMEX WTI crude futures sold down on sentiment that the recent gains had been overdone and also was driven by a downside correction in gasoline (RBOB) futures. A rally on Brent in response to geopolitical worries and an improved demand outlook pared the WTI losses.

RBOB: Feb: $3.0258/gal, down 1.29 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled lower as the February prompt contract expired at the close of today’s session. RBOB futures had steadily increased by more than 30 cents/gal since 16 January.

NATURAL GAS: Mar: $3.339/MMBtu, up 0.4 cents
Futures contracts on the NYMEX natural gas market settled slightly up, after a volatile session where prices see-sawed up and down several cents. Prices had been boosted by cooler near-term weather predictions and a positive weekly gas report from the Energy Information Administration (EIA), though longer-term demand fundamentals remain weak. 

ETHANE: higher at 26 cents/gal
Ethane spot prices were higher, decoupling from crude and other energy commodities.

AROMATICS: toluene up at $4.25-4.27/gal, mixed xylene wider at $4.50-4.65/gal
Prompt n-grade toluene reportedly traded up at $4.26/gal FOB (free on board) during the day. The reported trade was up form $4.22-4.24/gal FOB the previous session. Meanwhile, prompt mixed xylene (MX) discussions were at wider during the day as offers firmed. The prompt MX range for the day was further apart compared with $4.50-4.60/gal FOB the previous day.

OLEFINS: Feb ethylene down at 64 cents/lb, PGP offer down at 75.625 cents/lb
US ethylene for February traded down from deals done at 65.25-66.00 cents/lb on Tuesday. Polymer-grade propylene (PGP) for February was offered down from a deal at 76 cents/lb the previous day against a bid at 74 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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