EVENING SNAPSHOT - Americas Markets Summary

02 July 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: $99.60/bbl, up $1.61/bbl; Aug Brent: $104.00/bbl, up $1.00
NYMEX WTI crude futures were up 1.64% on Tuesday, taking strength from civil unrest in Libya and Egypt, as well as higher US factory orders and strong automobile sales. WTI futures were able to shrug off a stronger US dollar to narrow their spread with Brent.

RBOB: Aug $2.7833/gal, up 4.54 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher as they tracked an overall stronger energy complex and as the August contract continued to close the gap with the expired July RBOB contract.

NATURAL GAS: Aug: $3.654/MMBtu, up 7.7 cents
The August contract on the NYMEX natural gas futures market gained further ground through Tuesday trading, closing above the $3.60/MMBtu mark for the first time in four sessions as high temperatures across the northeast and west coast continue to improve the demand outlook from the power sector. Positive economic data showing growing consumer confidence also helped bullish sentiment. 

ETHANE: higher at 24.25 cents/gal
Ethane spot prices were higher, tracking stronger energy futures, including natural gas.

AROMATICS: toluene wider at $3.50-3.65/gal; mixed xylene up at $3.80-3.95/gal
Prompt n-grade toluene spot prices moved to within a wider range during the day. The afternoon toluene range was further apart from $3.55-3.63/gal FOB (free on board) the previous session. Prompt mixed xylene (MX) price discussions were discussed within a higher range during the day. The afternoon MX range was up from $3.75-3.90/gal FOB the previous day.  

OLEFINS: ethylene done higher at 58 cents/lb; RGP bid higher at 55.00-55.25 cents/lb
US July ethylene traded at 58 cents/lb on Tuesday, higher than two trades at 57 cents/lb on Monday. US refinery-grade propylene (RPG) for July was bid higher at 55.00-55.25 cents/lb, compared with 54.00-54.25 cents/lb the previous day.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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