27 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: Apr WTI: $92.76/bbl, up 13 cents; Apr Brent: $111.87/bbl, down 84 cents
NYMEX WTI crude futures posted light gains in choppy action, lifted by a rally in the stock market and the euro rebounding from recent lows. A sell-off in gasoline futures and a build in crude inventories, together with a jump in refinery runs revealed by the weekly supply statistics from the Energy Information Administration (EIA), kept the gains in check.
RBOB: Mar: $2.8565/gal, down 12.51 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to decline as a higher-than-expected increase in refinery utilisation calmed near-term supply concerns. Utilisation rates gained 2.2 percentage points to 85.1%, according to the EIA.
NATURAL GAS: Apr: $3.434/MMBtu, down 2.2 cents
The April contract ended its first day as the front month on the NYMEX natural gas market edging lower, following an early afternoon price crash. The contract shed around 8 cents in the last hour of trade, after achieving gains of more than 3% through the morning session on the back of cooling weather forecasts and ongoing nuclear power plant outages.
AROMATICS: toluene tighter at $4.35-4.45/gal, mixed xylene tighter at $4.45-4.47/gal
March n-grade toluene price discussions moved to a tighter range during the day, as bids firmed and offers held steady. The afternoon toluene range was tighter from $4.30-4.45/gal FOB (free on board) the previous day. Meanwhile, mixed xylene (MX) spot prices were discussed within a tighter range compared with $4.40-4.48/gal FOB the previous day.
OLEFINS: ethylene done tighter at 62.5 cents/lb; RGP higher at 68-70 cents/lb
February ethylene was traded twice on Wednesday at 62.5 cents/lb, compared with deals at that level and at 63.0 cents/lb on Tuesday. February refinery-grade propylene bid/offer levels were heard at 68-70 cents/lb, higher than a deal done the previous week at 62 cents/lb.
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