31 May 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $91.97/bbl, down $1.64; Jul Brent: $100.39/bbl, down $1.80
NYMEX WTI crude futures fell sharply on pre-weekend selling as the market was still factoring in all-time high inventories revealed earlier in the week by the supply statistics from the Energy Information Administration (EIA).
RBOB: Jun $2.7789/gal, down 3.36 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled lower on the drop in crude futures. The expiration of the June prompt contract also contributed to weakness in RBOB futures since the July contract is much lower.
NATURAL GAS: Jul $3.984/MMBtu, down 3.9 cents
The July contract on the NYMEX natural gas futures market extended its recent losing streak into a fifth consecutive session, as traders continued to digest the latest injection into US gas inventories and the easing demand outlook stemming from lower temperature forecasts.
ETHANE: wider at 27.250-27.625 cents/gal
Ethane spot prices were assessed wider from the end of Thursday as demand remains weak due to cracker outages.
AROMATICS: toluene tighter at $3.80-3.82/gal,
June n-grade toluene was heard to have traded at $3.81/gal FOB (free on board) during the day, sources said. The range was tighter compared with $3.73-3.90/gal FOB the previous session.
OLEFINS: ethylene higher at 54.00-56.25 cents/lb, PGP offered higher at 63 cents/lb
US May ethylene bid/offer levels moved up to 54.00-56.25 cents/lb on Friday from 53.00-55.75 cents/lb the previous day. May polymer-grade propylene (PGP) was offered higher at 63 cents/lb compared with two deals done the previous day at 61.75 cents/lb.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections