11 February 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: $97.03/bbl, up $1.31; Mar Brent: $118.13/bbl, down 77 cents
NYMEX WTI crude futures rose on the back of a stronger euro. It also responded to a prediction by a couple of Wall Street banks that the negative WTI-Brent spread would shrink dramatically in the second quarter. The rally was in thin volume because of the absence of global market participation as a result of Lunar New Year celebrations across much of Asia and despite weakness in the stock market.
RBOB: Mar: $3.0212/gal down 3.76 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices retreated on Monday as demand thinned in the northeast due to the winter storm.
NATURAL GAS: Mar: $3.279/MMBtu, up 0.7 cent
The front month on the NYMEX natural gas market settled the first trading day of the week edging upwards, reversing losses incurred during the morning session as fluctuating weather forecasts make near-term demand levels increasingly hard to predict.
ETHANE: stable at 24.50 cents/gal
Ethane spot prices were stable on Monday as activity was thin.
AROMATICS: mixed xylenes wider at $4.60-4.70/gal
Prompt mixed xylenes (MX) spot prices were discussed within a wider range during the day. Bids and offers moved further apart compared with $4.64-4.66/gal FOB (free on board) the previous session.
OLEFINS: Feb ethylene wider at 60-65 cents/lb; Feb RGP lower at 72.5 cents/lb
February ethylene bid/offer levels were heard at 60.0-65.0 cents/lb, wider from deals done the previous week between 62.5-63.5 cents/lb. A deal for February refinery-grade propylene (RGP) was heard at 72.5 cents/lb, lower than the previous deal at 73.5 cents/lb but higher than the lowest deal of the previous week, at 72.0 cents/lb.
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