26 June 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $95.50/bbl, up 18 cents; Aug Brent: $101.66/bbl, up 40 cents
NYMEX WTI crude futures posted modest gains at the end of another volatile session, tracking a rally in the stock market and overshadowing a stronger dollar. WTI overcame a sell-off in response to the Energy Information Administration's (EIA) weekly supply statistics that showed a slight build in crude stocks and a substantial build in gasoline inventories. Economic growth during the first quarter was revised downwards, suggesting that the Fed will continue its easy-money policy.
RBOB: Jul: $2.7306/gal, down 0.68 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fell slightly as supply statistics showed a 1.6% rise in supplies.
NATURAL GAS: Jul: $3.707/MMBtu, up 6 cents
The July contract settled its final day as the front month on the NYMEX natural gas market up over 1.5%, breaking a four-session losing streak despite low volumes. Traders looked to cover a surge in immediate-term demand from the power sector due to soaring temperatures across the northeast.
ETHANE: lower at 24.25 cents/gal
Ethane spot prices were lower as demand continued to be weak.
AROMATICS: mixed xylenes down at $3.72-3.85/gal, toluene down at $3.50-3.63/gal
US mixed xylenes (MX) spot prices were discussed at $3.72-3.85/gal FOB (free on board) on Wednesday, sources said. The range was down from $3.80-3.87/gal FOB the previous session. Meanwhile, US toluene spot bid/offer levels were at $3.50-3.63/gal FOB, sources said. The range was down from $3.55-3.65/gal FOB the previous session, following the overall drop in aromatics.
OLEFINS: ethylene done lower at 57 cents/lb, PGP done lower at 62.5 cents/lb
US June ethylene traded at 57.0 cents/lb, lower than the previous reported deal at 57.5 cents/lb. US June polymer-grade propylene (PGP) was traded lower at 62.500 cents/lb, compared with the previous reported deal of 63.375 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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