EVENING SNAPSHOT - Americas Markets Summary

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

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

CRUDE: May WTI: $86.68/bbl, down $2.04; Jun Brent: $97.69/bbl, down $2.22
NYMEX WTI crude futures extended the recent length liquidation, tracking a sell-off in equities and commodities as investors responded to worries about economic growth. The sell-off across the energy complex was driven by sluggish global oil-demand projections.

RBOB: May: $2.7290/gal, down 5.28 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices gave back Tuesday’s gains of 2.42 cents/gal as it tracked weaker crude and after the EIA report showed gasoline consumption fell by 94,000 bbl/day to 8.383m bbl/day.

NATURAL GAS: May: $4.214/MMBtu, up by 5.4 cents/MMBtu
Natural gas futures strengthened as temperature forecasts continued to be cooler than normal.

ETHANE: lower at 27.88 cents/gal
Ethane spot prices drifted lower, following weaker crude and lower demand.

AROMATICS: mixed xylenes wider at $3.82-3.92/gal, toluene tighter at $3.82-3.92/gal
Prompt mixed xylenes (MX) and toluene activity was thin during the day. However, price discussions for both markets were at parity with each other. The range was wider from the MX price of $3.84-3.86/gal FOB the previous day and tighter from the toluene price of $3.77-3.90/gal FOB.

OLEFINS: ethylene higher at 59.875-61.000, RGP offered higher at 52 cents/lb
April ethylene bid/offer levels moved to 59.875-61.000 cents/lb on news of several cracker outages, higher than levels seen the previous day at 57.000-60.000 cents/lb. US refinery-grade propylene (RGP) was offered at 52 cents/lb, higher than the most recent deal done at 50.5 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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