05 March 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Apr WTI: $90.82/bbl, up 70 cents; Apr Brent: $111.61/bbl, up $1.52
NYMEX WTI crude futures rose in line with other commodities tracking a healthy rally in the stock market in response to upbeat data showing expansion in the US service sector. Brent rose on short covering for the first time in five sessions, outperforming its American counterpart, resulting in the widening of the negative trans-Atlantic arbitrage. In electronic trading, following the NYMEX close, WTI drifted lower in response to the API supply statistics showing a much greater than forecast build in crude stocks. The market was also factoring in the news that Venezuela’s President Hugo Chavez had died.
RBOB: Apr: $3.1482/gal, up 4.99 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to climb from morning trading as it followed the movement in crude futures. RBOB was also influenced by the transition from winter-to-summer gasoline blends.
NATURAL GAS: Apr: $3.529/MMBtu, flat
The front month on the NYMEX natural gas market closed flat at the previous day's close, falling in the afternoon session after earlier rises based on predictions for colder-than-average temperatures across the southeast US through the next five days and nuclear power plant outages.
ETHANE: higher at 27.00 cents/gal
Ethane spot prices were higher, following the trend in crude and other energy commodities.
AROMATICS: toluene wider at $4.34-4.40/gal, mixed xylenes wider at $4.40-4.50/gal
US n-grade toluene and mixed xylenes (MX) spot prices for March moved within a slightly wider range during the day. Prompt n-grade toluene prices were slightly wider compared with $4.35-4.40/gal FOB (free on board) the previous session. Meanwhile, prompt MX spot prices were wider compared with $4.45-4.50/gal FOB the previous session.
OLEFINS: ethylene done higher at 63.25 cents/lb, PGP done lower at 69.25 cents/lb
Two deals for March ethylene were done at 63.25 cents/lb, higher on average than bid/offer levels of 62.00-64.00 cents/lb earlier in the day. A deal for March polymer-grade propylene (PGP) was done at 69.25, lower than deals the previous day at 70.00 and 70.25 cents/lb.
For more pricing intelligence please visit www.icispricing.com
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections