14 June 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: $97.85/bbl, up $1.16; Aug Brent: $105.93/bbl, up 98 cents
NYMEX WTI crude futures finished up for the third consecutive session on pre-weekend buying in response to a weak dollar and despite a sell-off in the stock market. The potential US involvement in the Syrian civil war provided underlying support.
RBOB: Jul $2.8967/gal, up 3.54 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices extended gains on the back of higher crude futures and the strong performance in the market yesterday, which continued to boost RBOB futures.
NATURAL GAS: Jul: $3.733/MMBtu, down 8.1 cents
The July contract on the NYMEX natural gas market ended the week with a 2% drop, falling for the first time in three sessions on cooling weather forecasts for high consumption regions in the northeast and increasingly strong inventory levels.
ETHANE: lower at 22.50-22.75 cents/gal
Ethane spot prices fell on Friday as oversupply and low demand have pushed ethane below fuel value, meaning it is more valuable in the natural gas stream than it is as a petrochemical feedstock.
AROMATICS: toluene up at $3.75-3.85/gal; mixed xylene up at $3.95-4.05/gal
Prompt n-grade toluene price discussions moved higher during the day, sources said. The range was up from $3.67-3.80/gal FOB (free on board) the previous session. US mixed xylene (MX) price discussions also moved to a higher range during the day. June MX spot prices were up from $3.93-4.02/gal FOB the previous session.
OLEFINS: ethylene done higher at 59-60 cents/lb; RGP higher at 57.000-57.625 cents/lb
US June ethylene was done between 59.0-60.0 cents/lb, up from the previous reported deal of 53.5 cents/lb on expected supply tightness. US June refinery-grade propylene (RPG) was done between 57.000-57.625 cents/lb, up from the previous reported deal of 57 cents/lb early in the week.
For more pricing intelligence please visit www.icispricing.com
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