21 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: $96.16/bbl, down 55 cents; Jul Brent: $103.91/bbl, down 89 cents
NYMEX WTI crude futures finished down under pressure from a stronger dollar and an aggressive sell-off in gasoline futures, overshadowing a rally in the stock market. With gasoline supplies deemed to be adequate ahead of the long Memorial Day holiday, sellers drove the market down. The June WTI contract went off the board at the end of the NYMEX session. The weekly supply statistics from the American Petroleum Institute (API) revealed a contrary-to-expected build in crude stocks and much-greater-than-forecast build in gasoline inventories.
RBOB: Jun $2.8458/gal, down by 5.98 cents/gal
Reformulated blendstock for oxygen blending (RBOB) prices fell as analysts predicted a build in inventories. The US Energy Information Administration (EIA) releases its weekly inventory report on 22 May.
NATURAL GAS: Jun $4.192/MMBtu, up 10.2 cents
The June contract on the NYMEX natural gas futures market settled for the day at a 20-session high, boosted by the above-average temperature outlook and ongoing nuclear power plant outages.
ETHANE: steady at 28.50 cents/gal
Ethane spot prices were steady on balanced supply-demand fundamentals. There was some uptick in demand on the possibility of cracker restarts.
AROMATICS: toluene, down at $3.90-4.00/gal; mixed xylene, down at $3.95-4.10/gal
Prompt n-grade toluene and mixed xylene (MX) spot prices were discussed within a lower range during the day, sources said. The May toluene range was down from $3.95-4.05/gal FOB (free on board) late on Monday, while the May MX range was down from $4.05-4.20/gal FOB.
OLEFINS: ethylene done lower at 55-57 cents/lb, PGP offered lower at 60.5 cents/lb
US May ethylene was done lower on Tuesday, with trades at 55.00, 56.00 and 57.00 cents/lb, compared with Monday’s deal at 58.25 cents/lb. US May polymer-grade propylene (PGP) was offered lower at 60.5 cents/lb, compared with 61.5 cents/lb the previous day.
For more pricing intelligence please visit www.icispricing.com
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections