EVENING SNAPSHOT - Americas Markets Summary

07 February 2013 22:37  [Source: ICIS news]

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

CRUDE: Mar WTI: $95.83/bbl, down $0.79; Mar Brent: $116.73/bbl, up $0.21
NYMEX WTI crude futures fell tracking a sell-off in the stock market and the dollar firming against the euro. Weakness in the refined products also pressured crude prices. A report showing a drop in US jobless claims failed to provide support.

RBOB: Mar: $2.9999/gal, down 3.98 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled below the $3 mark as claims for jobless benefits declined by fewer than expected. RBOB also took in the US Energy Information Administration (EIA) report from Wednesday that showed a build-up in gasoline inventories and a drop in consumption.

NATURAL GAS: Mar: $3.285/MMBtu, down 13.3 cents
NYMEX natural gas futures slipped 3.9% to their biggest loss in eight sessions through Thursday trading, as market participants reacted to disappointing consumption data in the EIA’s latest weekly gas storage report.

ETHANE: lower at 24.50 cents/gal
Ethane spot prices fell as it continued to track weakness in crude and other energy commodities.

AROMATICS: toluene tighter at $4.39-4.41/gal, mixed xylene tighter at $4.60-4.65/gal
Prompt n-grade toluene and mixed xylene both reportedly traded during the day. Trade sources said n-grade toluene was heard to have traded at $4.40/gal FOB (free on board). The deal was within the previous day’s range of $4.35-4.50/gal FOB. Meanwhile, prompt mixed xylene (MX) was heard to have traded at $4.60/gal FOB, with discussions later moving higher. The afternoon MX range was tighter from $4.50-4.65/gal the previous day.

OLEFINS: ethylene lower at 62.5-63.0 cents/lb; RGP bid steady at 70 cents/lb
February ethylene was done lower at 62.500 and 63.000 cents/lb, compared with deals the previous day at 63.125 and 63.500 cents/lb, as supply improved. Bids for February refinery-grade propylene (RGP) were steady at 70 cents/lb as demand continued to slip.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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