EVENING SNAPSHOT - Americas Markets Summary

26 March 2013 21:29  [Source: ICIS news]

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

CRUDE: May WTI: $96.34/bbl, up $1.53; May Brent: $109.36/bbl, up $1.19
NYMEX WTI crude futures rose for the third consecutive session, tracking a rally in the stock market in response to released data, which showed strong US home sales and a rise in durable goods orders suggesting an expanding economy. There was some optimism regarding the banking crisis in Cyprus, but its potential effect on the eurozone continued to weigh on the markets.

RBOB: Apr: $3.1106/gal, up 4.80 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled higher as it began to track the movement in crude futures. The US economic data on durable goods and home prices were both better than expected, and that added further support to gasoline trading.

NATURAL GAS: Apr: $3.976/MMBtu, up 11.1 cents
The April contract on the NYMEX natural gas market broke a four-day losing streak by bouncing upwards nearly 3% through Tuesday’s session to reach a fresh 18-month high as the ongoing unseasonably cold spell and nuclear reactor outages increased the prospects for soaring near-term demand.

ETHANE: higher at 29.63 cents/gal
Ethane spot prices were higher, following higher natural gas futures.

AROMATICS: styrene flat at 72.75-73.25 cents/lb
The US styrene market was still thin this week with no fresh trades heard. As a result, spot prices were unchanged from the previous session.

OLEFINS: ethylene offered at 64.5 cents/lb, PGP at 61.50-62.25 cents/lb
US spot ethylene and propylene prices were unchanged as market players continued to attend a key industry event.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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