12 February 2013 23:39 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $97.51/bbl, up 48 cents; Mar Brent: $118.66/bbl, up 53 cents
NYMEX WTI crude futures extended recent gains, tracking a modest rally in the stock market and the euro rising against the dollar. Both the US Energy Information Administration’s (EIA) and OPEC raised the global energy demand outlook for 2013 in response to a string of positive economic indicators. The EIA report, however, also forecast an increase in global oil and gas supplies outside OPEC, led by production in North America.
RBOB: Mar: $3.0503/gal, up 2.91 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures were higher, tracking a rally in crude.
NATURAL GAS: March: $3.230/MMBtu, down 4.9 cents
Henry Hub futures on the NYMEX made a gradual descent throughout the day, after forecasts showed above-normal temperatures for the US in the 10-day outlook. Gas storage supplies have remained ample, matching with northeast winter demand so far.
ETHANE: higher at 25.00 cents/gal
Ethane spot prices were higher, tracking gains in crude and other energy commodities.
AROMATICS: mixed xylene flat at $4.60-4.70, toluene tighter at $4.45-4.55/gal
Activity was thin for the US mixed xylene market during the day, as prices were flat. However, prompt n-grade toluene prices were discussed within a tighter range was bids firmed, and offers held steady. Bids were up from $4.42-4.55/gal FOB (free on board) the previous session.
OLEFINS: Feb ethylene down at 61.75 cents/lb; RGP down at 71.50 cents/lb
February ethylene traded down from deals done at 62.50-63.50 cents/lb last week. Refinery-grade propylene (RGP) for February traded down from 72.50 cents/lb on Monday.
For more pricing intelligence please visit www.icispricing.com
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