EVENING SNAPSHOT - Americas Markets Summary

02 April 2013 23:00  [Source: ICIS news]

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

CRUDE: May WTI: $97.19/bbl, up 12 cents; May Brent: $110.69/bbl, down 39 cents
NYMEX WTI crude futures settled higher, in line with gains in the stock market. However, a sell-off in gasoline RBOB futures, economic concerns and expectations of rising inventories capped the rally.

RBOB: May: $3.0408/gal, down 6.07 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell sharply as traders shrugged off positive manufacturing and car sales data.

NATURAL GAS: May: $3.969/MMBtu, down 4.6 cents
The front month on the NYMEX natural gas market closed down for a third straight session on Tuesday, settling below the $4.00/MMBtu mark for the first time since last Wednesday as the warmer mid-April weather outlook for the east coast and Midwest offset demand concerns stemming from offline nuclear power capacity.

ETHANE: lower at 29.00 cents/gal
Ethane spot prices continued to move lower, following weaker natural gas futures.

AROMATICS: toluene up at $3.79-3.81/gal
US April n-grade toluene reportedly traded at $3.80/gal FOB (free on board) during the day, sources said. The reported deal was up from $3.70-3.78/gal FOB the previous session.

OLEFINS: ethylene tighter at 60.25-61.75 cents/lb; PGP higher at 61 cents/lb
April ethylene bid/offer levels tightened to 60.25-61.75 cents/lb on Tuesday, compared with 59.00-63.50 cents/lb the previous day, on news of a planned cracker shutdown. US April polymer-grade propylene (PGP) traded twice at 61.0 cents/lb, up from a deal on Monday at 60.5 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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