EVENING SNAPSHOT - Americas Markets Summary

11 March 2013 21:48  [Source: ICIS news]

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

CRUDE: Apr WTI: $92.06/bbl, up 11 cents; Apr Brent: $110.22/bbl, down 63 cents
NYMEX WTI crude futures posted light gains after spending most of the session in negative territory. Despite weakness on Brent and a strong dollar, WTI responded to another session of record highs in the stock market.

RBOB: Apr: $3.1524/gal, down 5.11 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled lower despite higher crude futures. RBOB declined after Friday’s spike of more than 8 cents/gal.

NATURAL GAS: Apr: $3.649/MMBtu, up 2.0 cents
The front month on the NYMEX natural gas futures market edged upward for a third consecutive session despite below-average trading activity. Cold fronts across the Great Lakes region are expected to keep near-term demand high, while nuclear power plant outages further south should also lead to increased gas consumption for power generation purposes.

ETHANE: stable at 27.00 cents/gal
Ethane spot prices were stable as activity was thin while many were at an industry event in Miami, Florida.

AROMATICS: mixed xylenes tighter at $4.20-4.35/gal
March mixed xylenes (MX) prices were tighter on Monday at $4.20-4.35/gal as bids were steady and offers fell from Friday levels of $4.40/gal.

OLEFINS: ethylene higher at 63.25-64.25 cents/lb, PGP wider at 63.5-66.0 cents/lb
Deals for March ethylene were heard at 63.25 and 64.25, higher than bid/offer levels seen to close the previous week at 61.00-64.00 cents/lb. March polymer-grade propylene (PGP) bid/offer levels were heard at 63.5-66.0 cents/lb, wider compared with deals done last week at 65.00-65.25 cents/lb.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



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