22 March 2013 22:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: May WTI: $93.71/bbl, up $1.26; May Brent: $107.66/bbl, up 19 cents
NYMEX WTI crude futures rose sharply on pre-weekend buying while tracking a stock market rally and the euro firming against the dollar. Concerns regarding the banking crisis in Cyprus and its potential effect on the eurozone debt crisis faded on sentiment that a bailout plan was being developed.
RBOB: Apr: $3.0625/gal, down 0.81 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled slightly lower despite upward movement in crude futures. For the week, gasoline futures lost 10.13 cents/gal.
NATURAL GAS: Apr: $3.927/MMBtu, down 0.8 cent
The front month on the NYMEX natural gas market settled down by almost one cent despite rising several cents through Friday morning trading, as nuclear power plant outages failed to outweigh concerns over falling heating demand as spring comes into view.
ETHANE: wider at 28.50-28.75 cents/gal
Ethane spot prices were slightly wider than Thursday’s range as trading activity lessened throughout the day.
AROMATICS: toluene flat at $3.90-4.00/gal, mixed xylenes flat at at $4.00-4.05/gal
Activity was thin for toluene and mixed xylenes (MX) during the day. Many trade participants were away from the market ahead of an industry function this weekend. As a result, spot prices were flat from the previous session.
OLEFINS: ethylene offered lower at 64.5 cents/lb, PGP lower at 61.50-62.25 cents/lb
No bids were heard for March ethylene, but offers fell to 64.5 cents/lb from 65.0 cents/lb the previous day. March polymer-grade propylene bid/offer levels fell to 61.50-62.25 cents/lb, compared with two deals the previous day at 63.75 cents/lb.
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