EVENING SNAPSHOT - Americas Markets Summary

07 May 2013 23:00  [Source: ICIS news]

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

CRUDE: Jun WTI: $95.62/bbl, down 54 cents; Jun Brent: $104.40bbl, down $1.06
NYMEX WTI crude futures lost ground in lacklustre trading after factoring in the previous week’s strong jobs report and Israel’s air attack on Syria during the weekend. WTI traded within Monday’s high/low range, consolidating recent gains. The weekly supply statistics from the American Petroleum Institute (API) revealed a contrary-to-expected drawdown in gasoline stocks and much less-than-forecast build in crude inventories.

RBOB: Jun: $2.8334/gal, down 3.23 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures gave back most of Monday’s gains as they tracked lower crude futures and were influenced by an employment report that showed a drop in job openings in March from the US Department of Labor. Negative jobs data could mean slower demand for commodities, such as gasoline.

NATURAL GAS: Jun: $3.920/MMBtu, down 9.1 cents
The June contract on the NYMEX natural gas futures market closed below the $4.00/MMBtu mark for the first time since 3 April, losing 2% over Tuesday trading due to mild weather forecasts and early expectations for another substantial addition to gas inventories.

ETHANE: lower at 28.00 cents/gal
Ethane spot prices were lower on Tuesday, following weaker natural gas futures.

AROMATICS: mixed xylenes down at $4.05-4.10/gal, toluene up at $4.05-4.20/gal
Prompt mixed xylenes (MX) spot prices were discussed within a slightly lower range during the day, sources said. The afternoon toluene range was down from $4.06-4.15/gal FOB (free on board). Meanwhile, the prompt toluene market saw prices firm from $4.03-4.15/gal FOB the previous session.

OLEFINS: ethylene bid lower at 55 cents/lb; PGP done higher at 60 cents/lb
May ethylene bid levels dipped slightly, falling to 55.00 cents/lb from 55.25 cents/lb the previous day, as demand remains soft. US May polymer-grade propylene (PGP) traded higher at 60.00 cents/lb, compared with the previous deal at 59.25 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly