EVENING SNAPSHOT - Americas Markets Summary

13 February 2013 23:00  [Source: ICIS news]

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

CRUDE: Mar WTI: $97.01/bbl, down 50 cents; Mar Brent: $118.72/bbl, up 6 cents
NYMEX WTI crude futures finished down at the end of a choppy session after the monthly market report from the European-based International Energy Agency (IEA) came in, trimming the growth of global energy demand. Prices rose again when the weekly supply statistics from the US Energy Information Administration (EIA) showed a smaller-than-forecast build in crude stocks, plus an unexpected drawdown on gasoline and a much larger drawdown on distillates. Modest losses in the stock market and the euro shifting lower against the dollar later pressured the energy complex. The EIA data was interpreted to suggest that refiners are destocking refined products to cover lacklustre demand, rather than running crude.

RBOB: Mar: $3.0354/gal, down 1.49 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell as the EIA report showed a drop in gasoline consumption for the week ended 8 February.

NATURAL GAS: Mar: $3.306/MMBtu, up 7.6 cents
NYMEX natural gas futures settled the Wednesday trading session up from the previous days close, encouraged by colder weather forecasts for the northeast and Great Lakes regions next week.

ETHANE: steady at 25.00 cents/gal
Ethane spot prices were stable despite weakness in crude futures and other energy commodities.

AROMATICS: toluene at $4.45-4.57/gal; mixed xylenes at $4.59-4.61/gal
February n-grade toluene spot prices were discussed within a slightly wider range during the day, as offered firmed. N-grade toluene spot prices were further apart compared with $4.45-4.55/gal FOB (free on board) the previous session. Meanwhile, February mixed xylenes (MX) traded at $4.60/gal during the day. The deal was on the low-end of the previous day’s range at $4.60-4.70/gal FOB.

OLEFINS: Feb ethylene bid down at 60.25 cents/lb; PGP offer flat at 72.50 cents/lb
February ethylene was bid down from a deal done at 61.75 cents/lb on Tuesday with no offers. Polymer-grade propylene (PGP) for February was offered flat with a deal on Tuesday against a bid at 70.00 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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