05 April 2013 22:51 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: May WTI: $92.70/bbl, down 56 cents; May Brent: $104.12/bbl, down $2.22
NYMEX WTI crude futures finished down for the third consecutive session, driven by a sell-off in the stock market in response to a disappointing US jobs report and sentiment that the economic expansion is losing momentum. Brent outpaced its American counterpart on the way down, moving into contango and substantially narrowing the negative trans-Atlantic arbitrage.
RBOB: May: $2.8636/gal, down 3.51 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled lower after the disappointing jobs report. For the week, gasoline futures lost 23.79 cents/gal.
NATURAL GAS: May: $4.125/MMBtu, up 17.8 cents
The front month on the NYMEX natural gas market settled for the week at a fresh 2013 high after jumping 4.5% through Friday trading, as traders enjoyed the bullish mood that has gripped the market following the release of the Energy Information Administration’s (EIA) latest storage report. Expectations are high that inventories will fall further next week to levels not seen since the first quarter of 2011.
ETHANE: higher at 28.75 cents/gal
Ethane spot prices were higher, following strength in natural gas futures.
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 to end the week, sources said. Prices were flat from the previous session.
OLEFINS: ethylene flat at 57.5-60.5 cents/lb, RGP bid at 55 cents/lb
Ethylene traded for 57.50 cents/lb for April against offers of 59.0 and 60.5 cents/lb. Refinery-grade propylene was offered at 55 cents/lb against no bids.
For more pricing intelligence please visit www.icispricing.com
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