04 April 2013 23:05 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: May WTI: $93.26/bbl, down $1.19; May Brent: $106.34/bbl, down 77 cents
NYMEX WTI crude futures posted substantial losses for the second consecutive session in response to released US Labor Department’s data, showing initial jobless claims at a four-month high. Crude prices had fallen sharply on Wednesday as a result of the weekly supply statistics from the Energy Information Administration (EIA) showing crude inventories are at the highest level since 1990.
RBOB: May: $2.8987/gal, down 1.53 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to settle lower as the market continued to react to Wednesday’s EIA data, which showed a smaller-than-expected drop in inventories.
NATURAL GAS: May: $3.947/MMBtu, up 4.7 cents
The front month on the NYMEX natural gas market rallied against the recent price slump to settle up for the first time in five sessions, boosted by the release of the EIA’s latest weekly gas storage report, which showed a larger-than-expected withdrawal from gas stocks over the week ended 29 March.
ETHANE: lower at 28.00 cents/gal
Ethane spot prices continued to drift lower on Wednesday. Prices had drifted to below 27.50 cents/gal early in the day, but afternoon deals strengthened the price.
AROMATICS: toluene flat at $3.79-3.81/gal, mixed xylene flat at $3.81-3.83/gal
There was no change in US toluene or mixed xylene (MX) spot prices during the day, sources said. Prices were flat from the previous session on thin activity.
OLEFINS: ethylene bid/offer lower at 57.0-58.5 cents/lb; PGP offered higher at 63 cents/lb
Bid/offer levels for April ethylene fell to 57.00-58.50 cents/lb from deals done the previous day at 61.50-61.75 cents/lb. Offers for polymer-grade propylene (PGP) moved higher to 63.0 cents/lb from 62.5 cents/lb the previous day.
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