28 March 2013 22:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Mar WTI: $97.23/bbl, up 65 cents; Mar Brent: $110.02/bbl, up 33 cents
NYMEX WTI crude futures rose for the fifth consecutive session as investors opted for positions of length ahead of the Easter weekend. Gains in the stock market, despite released data showing a jump in unemployment claims, and a weaker dollar provided underlying support to the crude rally.
RBOB: Apr: $3.1054/gal, down by 1.01 cents/gal
Reformulated blendstock for oxygen blending (RBOB) prices slid just over a penny on a rise in unemployment claims. However, strong GDP data and a positive stock market helped mitigate the loss.
NATURAL GAS: May: $4.024/MMBtu, down 4.4 cents
The front month on the NYMEX natural gas market closed Thursday trading down over 1%, as market sentiment turned bearish following the release of Energy Information Administrations (EIA) latest weekly storage gas report and changing overnight weather forecasts indicating that temperatures should shift warmer from mid-April onwards.
ETHANE: higher at 31.25 cents/gal
Ethane spot prices moved above 31 cents/gal for the first time since early November 2012.
AROMATICS: toluene down at $3.75-3.77/gal, mixed xylene tighter at $3.87-3.89/gal
April toluene traded at $3.76/gal FOB (free on board), down from discussions on either side of $3.80/gal FOB the previous session. Meanwhile, April mixed xylene (MX) was discussed within a tighter range compared with $3.75-4.00/gal FOB the previous session.
OLEFINS: March ethylene lower at 61.25 cents/lb; April PGP wider at 59-63 cents/lb
US ethylene for March fell to 61.25 cents/lb on news of a deal done lower than the previous day's 62.00 cents/lb. April polymer-grade propylene (PGP) was heard at 59-63 cents/lb, wider than the previous week’s range.
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