29 April 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $94.50/bbl, up by $1.50; Jun Brent: $103.81/bbl, up 65 cents
NYMEX light sweet crude (WTI) rallied on Monday after news that pending home sales were at their highest level in three years. A strong stock market and a weaker dollar also provided upward support. Brent also rebounded, setting an 11-day high during the session.
RBOB: May: $2.8275/gal, down 0.74 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell despite an increase in crude futures. There was little US economic and refinery-production news to have an impact on Monday’s trading.
NATURAL GAS: Jun: $4.392/MMBtu, up 16.9 cents
The June 2013 contract closed its first day as front month on the NYMEX natural gas market 4% higher than the previous day's close, rising on the back of changing weather forecasts and escalating nuclear power outages, increasing the prospect of stronger gas demand from the power generation sector.
ETHANE: higher at 30.00 cents/gal
Ethane spot prices were higher on Monday as demand from crackers remained strong. Natural gas futures also provided support by rising nearly 17 cents.
AROMATICS: mixed xylenes wider at $4.00-4.07/gal, toluene up at $3.98-4.10/gal
Prompt mixed xylenes (MX) spot prices moved to a wider range during the day as bids and offers moved further apart, sources said. The range was wider from $4.02-4.03/gal FOB (free on board) on Friday. Prompt n-grade toluene prices were stronger during the day, up from $3.95-4.05/gal FOB the previous session.
OLEFINS: ethylene offered lower at 58 cents/lb, May PGP bid/offers at 58.00-59.25 cents/lb
April ethylene offers fell to 58 cents/lb from 60 cents/lb the previous week, while bids held steady at 55 cents/lb. Bid/offer levels for May polymer-grade propylene (PGP) were heard at 58.00-59.25 cents/lb.
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