25 June 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $95.32/bbl, up 14 cents; Aug Brent: $101.26/bbl, up 10 cents
NYMEX WTI crude futures rose to post modest gains in response to upbeat economic data lifting the stock market, but the rally was kept in check by a strong dollar. Prices dipped a few cents following the release of the weekly supply statistics from the American Petroleum Institute (API) that showed a slight drawdown in crude stocks but a much-greater-than-expected build in gasoline inventories.
RBOB: Jul: $2.7374/gal, down 0.02 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were little changed at the close of trading, as the energy market was mixed and traders awaited Wednesday's US Energy Information Administration (EIA) inventory report.
NATURAL GAS: Jul: $3.647/MMBtu, down 9.2 cents
The July front month contract on the NYMEX natural gas futures market tumbled nearly 2.5% over Tuesday's trading, down for the fourth straight day as concerns over lowering near-term demand fundamentals and mounting storage levels failed to offset the release of further positive economic data on US housing sales and consumer confidence.
ETHANE: lower at 24.50 cents/gal
Ethane spot prices were up as high as 25.63 cents/gal in morning trading, but prices weakened as demand crashed along with natural gas futures.
AROMATICS: toluene down at $3.55-3.65/gal; mixed xylene flat at 3.83-3.95/gal
Prompt n-grade toluene spot prices were discussed at $3.55-3.65/gal FOB (free on board) on Tuesday, sources said. The range was below a deal heard at $3.68/gal FOB from the previous session. Meanwhile, prompt mixed xylene (MX) price discussions were at $3.83-3.95/gal FOB, no change from the previous day.
OLEFINS: June ethylene bid higher at 54.50-55.75 cents/lb; June PGP bid wider at 57-58 cents/lb
US June ethylene bids moved slightly higher to 54.50-55.75 cents/lb from 54.00 cents/lb despite lengthening supply. US June polymer-grade propylene (PGP) bids widened to 57-58 cents/lb from 58 cents/lb on longer supply.
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