26 February 2013 22:53 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Apr WTI: $92.63/bbl, down 48 cents; Apr Brent: $112.71/bbl, down $1.73
NYMEX WTI crude futures posted losses but lagged behind ICE Brent. The North Sea benchmark experienced a sell-off in response to eurozone economic uncertainties caused by the stalemate in the Italian elections and pressured the euro against the dollar. A stock market rally in response to a rebound in consumer confidence and growth in the housing sector put a floor on WTI.
RBOB: Mar: $2.9816/gal, down 7.95 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell below the $3/gal mark as it continued to track the weakness in crude futures.
NATURAL GAS: Mar: $3.427/MMBtu, up 1.3 cents
The March ‘13 contract ended its term as the front month on the NYMEX natural gas market by edging slightly upwards as ongoing nuclear power plant outages offset changing weather forecasts, predicting milder than previously expected weather forecasts across much of the country over the next two weeks.
ETHANE: lower at 26.38 cents/gal
Ethane spot prices fell slightly, tracking the movement of crude and other energy commodities.
AROMATICS: toluene down at $4.30-4.45/gal, mixed xylene down at $4.40-4.48/gal
Prompt n-grade toluene spot prices were discussed within a lower range during the day. The n-grade toluene price was down from $4.35-4.50/gal FOB (free on board) the previous day. US mixed xylene (MX) prices were discussed within a lower range during the day. The range was down from $4.47-4.49/gal FOB the previous day. The lower prices were in line with weaker benzene markets.
OLEFINS: ethylene done higher at 62.5-63.0 cents/lb; RGP bid higher at 67 cents/lb
February ethylene was done at 62.500 and 63.000 cents/lb on Tuesday, higher than a deal the previous day at 62.125 cents/lb, as supply is slightly tighter. US refinery-grade propylene (RGP) was heard bid higher at 67 cents/lb compared with bids at 66 cents/lb the previous day.
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