EVENING SNAPSHOT - Americas Markets Summary

06 March 2013 22:54  [Source: ICIS news]

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

CRUDE: Apr WTI: $90.43/bbl, down 39 cents; Apr Brent: $111.06/bbl, down 55 cents
NYMEX WTI crude futures posted light losses in response to the weekly supply statistics from the Energy Information Administration (EIA) showing a much-greater-than-forecast build in crude stocks, overshadowing a drawdown in refined products. Wall Street hit new intra-day highs in response to released data showing gains in private employment, and the euro shifted lower against the dollar.

RBOB: Apr: $3.1247/gal, down 2.35 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled lower as EIA data showed a drop in gasoline consumption and production rates.

NATURAL GAS: Apr: $3.470/MMBtu, down 5.9 cents
NYMEX natural gas futures closed down for the first time in three sessions, with the front month slipping from a five-week high due to milder weather forecasts for the next two weeks. 

ETHANE: stable at 27.00 cents/gal
Ethane spot prices were stable on Wednesday as crude and other energy commodities retreated.

AROMATICS: toluene flat at $4.34-4.40/gal, mixed xylene tighter at $4.45-4.48/gal
US toluene and mixed xylene (MX) trading was thin during the day with no fresh trades heard. Toluene discussions finished the day with prices unchanged from the previous session. Meanwhile, MX spot prices were discussed within a tighter range compared with $4.40-4.50/gal FOB (free on board).

OLEFINS: ethylene wider at 62-64 cents/lb, PGP lower at 65.75-67.75 cents/lb
Bid offer levels for March ethylene widened to 62.00-64.00 cents/lb after deals were done earlier in the day between 63.00-63.25 cents/lb. March PGP bid/offer levels fell to 65.75-67.75 cents/lb, lower than a deal done the previous day at 69.25 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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