07 March 2013 22:42 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Apr WTI: $91.56/bbl, up $1.13; Apr Brent: $111.15/bbl, up 9 cents
NYMEX WTI crude futures tracked a rally in the stock market in response to released data showing a drop in US claims for unemployment benefits, suggesting an improvement in economic growth. The dollar fell against the euro, making dollar-denominated commodities cheaper.
RBOB: Apr: $3.1233/gal, down 0.14 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled slightly lower despite a gain in crude futures. Futures traded lower than that during the morning session, but reports that unemployment benefits declined to a six-week low minimised the loss.
NATURAL GAS: Apr: $3.582/MMBtu, up 11.2 cents
The front month on the NYMEX natural gas market closed Thursday at its highest level in three months, boosted by the Energy Information Administration’s (EIA) latest weekly gas storage report, which showed US gas stocks at their lowest level in 21 months.
ETHANE: stable at 27.00 cents/gal
Ethane spot prices were stable, decoupling from rising crude futures as cracker demand is running strong with no major outages in the market.
AROMATICS: toluene down at 4.25-4.30, mixed xylene down at 4.39-4.41/gal
Prompt toluene and mixed xylene (MX) spot prices were down during the day. Prompt toluene prices dropped from $4.34-4.40/gal FOB (free on board) the previous session. Prompt MX prices were down from $4.45-4.48/gal FOB the previous day.
OLEFINS: ethylene offered higher at 64.25-64.50 cents/lb, RGP done lower at 63.5 cents/lb
Offer levels for March ethylene moved up to 64.25-64.50 cents/lb from 64.0 cents/lb the previous day, but no bids were heard. A deal for March refinery-grade propylene (RGP) was done at 63.5 cents/lb, lower than deals the previous week at 65.0 and 68.0 cents/lb.
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