EVENING SNAPSHOT - Americas Markets Summary

12 March 2013 22:09  [Source: ICIS news]

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

CRUDE: Apr WTI: $92.54/bbl, up 48 cents; Apr Brent: $109.65/bbl, down 57 cents
NYMEX WTI crude futures rose for the fourth consecutive session, despite the stock market slipping after a seven-day run and Brent losing ground for the third straight day. Investors responded to the euro shifting higher against the dollar, making dollar-denominated commodities cheaper. The weekly supply statistics from the American Petroleum Institute (API) revealed a contrary-to-expectations drawdown in crude stocks and much-greater-than-forecast drawdown in refined products.

RBOB: Apr: $3.1502/gal, down 0.22 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices changed little despite a drop in crude futures and refinery work in the Gulf Coast and Midwest. However, concern of diminishing supplies faded, causing RBOB futures to fall.

NATURAL GAS: Apr: $3.645/MMBtu, down 0.4 cents
The April front month contract on the NYMEX natural gas market edged down for the first time in three sessions, as some traders turned to short selling despite the continued positive outlook for near-term demand stemming from colder-than-normal weather across the northern states.

ETHANE: lower at 26.50 cents/gal
Ethane spot prices were lower with deals done at 26.50 cents/gal. Offers were heard lower at 26.38 cents/gal.

AROMATICS: mixed xylene flat at $4.20-4.35/gal, toluene flat at $4.00-4.25/gal
There were no fresh trades during the day for n-grade toluene or mixed xylene (MX). As a result, spot prices were flat from the previous session.

OLEFINS: ethylene done higher at 64.75 cents/lb, PGP done lower at 63.0-63.5 cents/lb
A deal for March ethylene was heard done at 64.75, higher than deals the previous day at 63.25 and 64.25 cents/lb on an unplanned cracker outage. Deals for March polymer-grade propylene were done at 63.0 and 63.5 cents/lb, lower than the most recent deal done at 65.0 cents/lb the previous week.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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