13 June 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jul WTI: $96.69/bbl, up 81 cents; Jul Brent: $104.25/bbl, up 76 cents
NYMEX WTI crude futures finished up for the second consecutive session, tracking a healthy rally in the stock market in response to a fall in claims for unemployment benefits and a rise in retail sales and consumer spending, which suggested the economy is gaining traction. Investors continue to gauge the possibility of central banks scaling back economic stimulus. July Brent went off the board at the end of the session. August settled at $104.95/bbl.
RBOB: Jul $2.8613/gal, up 5.12 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices settled higher as it tracked gains in crude. Encouraging jobs and consumer spending reports also boosted RBOB futures.
NATURAL GAS: Jul: $3.814/MMBtu, up 3.7 cents
The July contract on the NYMEX natural gas market closed at a four-day high, extending Wednesday’s gains on the back of the latest weekly gas storage report from the Energy Information Administration, which showed a storage injection slightly below most analyst’s expectations for the week ended 7 June.
ETHANE: lower at 23.25 cents/gal
Ethane spot prices were lower on oversupply and weak demand. A deadly explosion at Williams’s Geismar cracker in Louisiana will likely further depress prices, sources said.
AROMATICS: mixed xylenes flat at $3.93-4.02/gal, toluene flat at $3.67-3.80/gal
Activity was thin in the mixed xylenes (MX) and toluene markets during the day, sources said. There were no fresh trades, with prices flat from the previous session.
OLEFINS: ethylene bid higher at 57-58 cents/lb, PGP wider at 61.75-63.50 cents/lb
US June ethylene bids moved up to 57.0-58.0 cents/lb on Thursday following news of a fatal explosion at a Louisiana cracker. The bids were up from a deal done the previous day at 53.5 cents/lb. US June polymer-grade propylene (PGP) widened to 61.75-63.50 cents/lb compared with the previous reported deal at 62.00 cents/lb.
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