25 March 2013 22:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: May WTI: $94.81/bbl, up $1.10 May Brent: $108.17/bbl, up 51 cents
NYMEX WTI crude futures finished sharply higher, factoring in an encouraging bailout agreement for Cyprus, although the stock market was less confident and finished down. The impulsive buying in WTI also triggered technical buy stops, generating upside momentum.
RBOB: Apr: $3.0626/gal, up 0.0001 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices traded higher during morning hours but fell back near Friday’s settlement despite higher crude trading.
NATURAL GAS: Apr: $3.865/MMBtu, down 6.2 cents
The front month on the NYMEX natural gas market closed a turbulent trading session down several cents, slumping in the afternoon after closing in on fresh 2013 highs during morning trade. Traders are beginning to look beyond the present cold forecast for much of the lower 48 states and focus instead on the expected onset of milder weather, which should lower gas demand.
ETHANE: higher at 29.25 cents/gal
Ethane spot prices were higher as more buyers continued to enter the market.
AROMATICS: styrene flat at 72.75-73.25 cents/lb
US styrene spot prices were flat on Monday with no fresh trading heard during the day. Many trade participants were out of the market for an industry function.
OLEFINS: ethylene offered at 64.5 cents/lb, PGP at 61.50-62.25 cents/lb
No bids were heard for March ethylene, but offers were at 64.5 cents/lb from 65.0 cents/lb last week. March polymer-grade propylene bid/offer levels were at 61.50-62.25 cents/lb, compared to two deals the previous day at 63.75 last week.
For more pricing intelligence please visit www.icispricing.com
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