EVENING SNAPSHOT - Americas Markets Summary

09 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: $94.20/bbl, up 84 cents; May Brent: $106.23/bbl, up $1.57/bbl
NYMEX WTI crude futures finished higher for the second consecutive session, tracking a rally in the stock market and the dollar weakening against a basket of currencies. A portion of the gains were given back in post-NYMEX trading, with WTI drifting down towards $93.90/bbl,  following the release of the weekly supply statistics from the American Petroleum Institute (API), showing a much-greater-than-forecast build in crude stocks and a contrary-to-expectations build in gasoline inventories.

RBOB: May: $2.9424/gal, up 3.31 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices continued to make gains as it tracked crude futures and after analysts predicted a drop of about 1m bbl in gasoline inventories in the US Energy Information Administration (EIA) report on Wednesday.

NATURAL GAS: May: $4.017/MMBtu, down 6.5 cents
The front month on the NYMEX natural gas market extended losses registered through Monday trading into a second day, as continuing nuclear power plant outages and dwindling gas stocks fail to offset falling heating demand expectations due to the onset of warmer weather across high consumption regions. 

ETHANE: lower at 28.63 cents/gal
Ethane spot prices were weaker, following lower natural gas futures.

AROMATICS: toluene tighter at $3.80-3.85/gal, mixed xylene up at $3.85-3.95/gal
Prompt toluene spot prices moved to within a tighter range during the day as bids firmed. The April toluene range was tighter compared with $3.75-3.85/gal FOB (free on board) the previous session. Meanwhile, mixed xylene (MX) spot prices firmed from $3.80-3.90/gal FOB the previous session.

OLEFINS: ethylene wider at 53.25-55.00 cents/lb, PGP wider at 56.5-59.0 cents/lb
April ethylene bid/offer levels widened to 53.25-55.00 cents/lb on Tuesday, compared with a deal done the previous day at 55.00 cents/lb. April polymer-grade propylene (PGP) offer levels moved higher as bid levels were steady.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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