27 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: Aug WTI: $97.05/bbl, up $1.55; Aug Brent: $102.82/bbl, up $1.16
NYMEX WTI crude futures finished up for the fourth consecutive session, tracking a rally in the stock market as investors poured money into equities in response to released data that showed a decline in weekly jobless claims and a rebound in consumer spending. Concerns have eased regarding the Fed’s timing for the unwinding of the economic stimulus program.
RBOB: Jul: $2.7426/gal, up 1.20 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures for the July prompt-month contract rose as crude futures were stronger on the back of positive US economic statistics.
NATURAL GAS: Aug: $3.582/MMBtu, down 15.5 cents
The August contract began its first day as the front month on the NYMEX natural gas futures market by crashing more than 4% to the lowest front-month settlement since 7 March, as the US Energy Information Administration’s (EIA) latest weekly gas storage report showed a higher-than-expected injection of 95 billion cubic feet (bcf) into US stocks over the week ended 27 June.
ETHANE: lower at 23.63 cents/gal
Ethane spot prices were lower, tracking weak demand, oversupply and plummeting natural gas futures.
AROMATICS: toluene down at $3.45-3.60/gal; mixed xylene up at $3.75-3.90/gal
Prompt n-grade toluene spot prices on Thursday were discussed within a lower range during the day. The bid/offer range was down from $3.50-3.63/gal FOB (free on board) the previous session. Meanwhile, prompt mixed xylene (MX) spot prices on Thursday were discussed at $3.75-3.90/gal FOB, sources said. The range was slightly up from $3.72-3.85/gal FOB the previous day.
OLEFINS: ethylene offered higher at 60 cents/lb; PGP steady at 62.5 cents/lb
US June ethylene was offered higher at 60 cents/lb, compared with a trade the previous day at 57 cents/lb, while no fresh bids were heard. June polymer-grade propylene (PGP) was steady at 62.5 cents/lb, based on the most recently reported trade.
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