EVENING SNAPSHOT - Americas Markets Summary

19 March 2013 22:00  [Source: ICIS news]

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

CRUDE: Apr WTI: $92.16/bbl, down $1.58; May Brent: $107.45/bbl, down $2.06
NYMEX WTI crude futures fell sharply, tracking a stronger dollar on resurfacing eurozone economic concerns, in particular Cyprus banking problems, which may require a potential bailout by the European Community in order to avert bankruptcy. Expectations of another build in crude stocks to be revealed by weekly supply statistics also pressured the energy complex.

RBOB: Apr: $3.0451/gal, down 8.38 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell as it continued to track the drop in crude oil futures.

NATURAL GAS: Apr: $3.969/MMBtu, up 8.7 cents
The front month on the NYMEX natural gas market settled for the day at an a eighteen-month high, boosted by the expectation that gas consumption will remain above normal levels in the near term thanks to heating demand and recovering economic output.

ETHANE: lower at 28.50 cents/gal
Ethane spot prices were slightly lower on Tuesday, but they could move up soon as a result of stronger ethylene demand.

AROMATICS: mixed xylenes wider at $3.90-4.05/gal
Prompt mixed xylenes (MX) spot prices moved to a wider range during the day, as offers firmed and bids were stable. Prompt MX spot prices were wider from $3.90-4.00/gal FOB (free on board) the previous session. Trade sources said buyers kept to the sidelines for much of the day.

OLEFINS: ethylene wider at 63.75-66.00, PGP done higher at 65.5 cents/lb
Bid/offer levels for March ethylene moved wider to 63.75-66.00 cents/lb, compared with deals done earlier in the day at 65.00 and 65.25 cents/lb. March polymer-grade propylene (PGP) was done at 65.500 cents/lb in the afternoon, higher than a morning deal at 65.375 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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