EVENING SNAPSHOT - Americas Markets Summary

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

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

CRUDE:   Apr WTI: $92.96/bbl, up $0.80    May Brent: $108.72/bbl, up $1.27
NYMEX light sweet crude (WTI) rose in response to the weekly supply statistics from the US Energy Information Administration (EIA) showing a contrary-to-forecast drawdown in crude stocks. A rally in the stock market boosted by a statement from the Federal Reserve to continue the stimulus program also provided support. The April WTI contract went off the board at the end of the session.

RBOB: Apr: $3.1163/gal, up 7.12 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher as it tracked crude futures and an EIA storage report that showed a drop in gasoline inventories.

NATURAL GAS: Apr: $3.960/MMBtu, down 0.9 cents
The front month on the NYMEX natural gas market finished the day down from yesterday’s 18-month high despite rallying in the afternoon session, as milder weather forecasts for April lowered expectations for near-term winter heating demand.  

AROMATICS: toluene flat at $3.90-4.00/gal, mixed xylene tighter at $3.90-4.00/gal
Prompt n-grade toluene and mixed xylene prices were discussed at parity during the day, sources said. Toluene spot prices were stable from $3.90-4.00/gal FOB (free on board) the previous session. Meanwhile, mixed xylene (MX) prices discussions were tighter compared with $3.90-4.05/gal FOB the previous day.

OLEFINS: May ethylene done 63.25-63.75 cents/lb, Mar PGP offered lower at 63.25 cents/lb
Two deals for May ethylene were heard done at 63.25 and 63.75 cents/lb, putting material in backwardation compared to March product. Offers for March polymer-grade propylene (PGP) fell to 63.250 cents/lb, compared with deals done the previous day at 65.375 and 65.500 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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