EVENING SNAPSHOT - Americas Markets Summary

22 April 2013 22:53  [Source: ICIS news]

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

CRUDE: May WTI: $88.76/bbl, up 75 cents; Jun Brent: $100.39/bbl, up 74 cents
NYMEX WTI crude futures ended positive for the third consecutive session on position booksquaring as the May contract went off the board. Gains in the stock market also provided underlying support.

RBOB: May: $2.7694/gal, down 0.30 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures held near the level seen during morning trading despite a gain in crude futures. Reports of lower retail gasoline prices could support near-term demand, causing RBOB futures to rise.

NATURAL GAS: May: $4.267/MMBtu, down 14.1 cents
The front month on the NYMEX natural gas market began the week sliding 3.2%, experiencing its largest fall since early February, on the back of the warmer temperature outlook for early May.

ETHANE: stable at 29.00 cents/gal
Ethane spot prices were stable on Monday despite weakness in natural gas futures.

AROMATICS: mixed xylene higher at $3.90-4.10/gal, toluene tighter at $3.85-3.90/gal
Prompt mixed xylene (MX) spot prices were discussed within a higher range during the day. The range was up from $3.85-3.95/gal FOB (free on board) the previous day. Toluene spot prices were discussed within a tighter range as bids moved up. The toluene range was tighter from $3.80-3.90/gal FOB.

OLEFINS: ethylene wider at 55-62 cents/lb, RGP done higher at 51 cents/lb
April ethylene bid/offer levels moved to 55.00-62.00 cents/lb, wider than a deal done the previous Friday at 59.25 cents/lb. US April refinery-grade propylene (RGP) was heard done at 51 cents/lb, higher than the previous week’s lone deal of 47 cents/lb.

For more pricing intelligence please visit www.icispricing.com.

By: Staff Reporter
+44 20 8652 3214

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