21 March 2013 22:51 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: May WTI: $92.45/bbl, down $1.05; May Brent: $107.47/bbl, down $1.25
NYMEX WTI crude futures fell, tracking a sell-off in the stock market in response to fears that a collapse of the banking sector in Cyprus will affect the credit of other eurozone countries. Strong crude production in the North Sea pressured the Brent market.
RBOB: Apr: $3.0706/gal, down 4.57 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled lower as crude futures fell and gasoline attempted to correct Wednesday’s gain of more than 7 cents/gal.
NATURAL GAS: Apr: $3.935/MMBtu, down 2.5 cents
The front-month contract on the NYMEX natural gas market closed Thursday’s trading down several cents as traders reacted to the lower-than-expected decline in US inventories over the week ended 15 March as reported by the Energy Information Administration, as well as the milder weather outlook for early April.
ETHANE: higher at 28.63 cents/gal
Ethane spot prices were slightly higher on Thursday, decoupling from natural gas futures as more buyers have entered the market.
AROMATICS: mixed xylene up at $4.00-4.05/gal
Prompt mixed xylene (MX) spot prices were discussed within a higher range during the day. Market discussions were up from $3.90-4.00/gal FOB (free on board) the previous session.
OLEFINS: March ethylene tighter at 64-65 cents/lb, March PGP done lower at 63.75 cents/lb
March ethylene bid/offer levels tightened to 64-65 cents/lb compared with bid/offer levels the previous day at 63.00-65.75 cents/lb. March polymer-grade propylene (PGP) was done twice at 63.75 cents/lb, lower than the previous deal at 65.50 cents/lb.
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