22 May 2013 23:02 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $94.28/bbl, down $1.90; Jul Brent: $102.60/bbl, down $1.31
NYMEX West Texas Intermediate (WTI) crude futures finished down in response to the weekly supply statistics from the Energy Information Administration (EIA) that showed gasoline inventories rising to near-record levels, overshadowing a build in crude and distillate stocks. An early rally in the stock market faded, also pressuring the energy complex. The dollar also firmed against the euro on expectations that the US Federal Reserve will continue its economic stimulus program.
RBOB: June $2.8194/gal, down 2.64 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices fell as the EIA report showed a larger-than-expected build in gasoline inventories.
NATURAL GAS: June: $4.186/MMBtu, down 0.6 cents
The front month contract on the NYMEX natural gas futures market settled for the day almost flat from the previous days close in relatively low volumes as traders anticipated tomorrow’s weekly gas storage report from the EIA.
AROMATICS: Toluene tighter at $3.93-4.00, mixed xylene tighter at $3.95-4.05/gal
Prompt n-grade toluene spot prices were discussed within a tighter range during the day, sources said. The afternoon toluene range narrowed from $3.90-4.05/gal FOB (free on board). Mixed xylene (MX) spot prices were also discussed within a tighter range, compared with $3.95-4.10/gal FOB.
OLEFINS: ethylene done at 56 cents/lb, PGP done lower at 60.75 cents/lb
US May ethylene was done twice at 56 cents/lb on Wednesday, compared with deals done the previous day at 55, 56 and 57 cents/lb. May polymer-grade propylene (PGP) was done lower at 60.75 cents/lb, compared with the previous reported deals at 61.00 and 61.25 cents/lb.
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