16 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: $106.00/bbl, down 32 cents; Aug Brent: $109.40/bbl, up 31 cents
NYMEX WTI crude futures posted modest losses while consolidating recent gains and correcting from overbought conditions. A rally in gasoline futures kept the losses in check.
RBOB: Aug $3.1343/gal, up 3.14 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices extended the gains made during morning trading, despite some weakness in the crude market. An increase in ethanol credits boosted RBOB futures, but concerns of weak consumer demand could lower prices.
NATURAL GAS: Aug: $3.677/MMBtu, up 0.3 cent
The August contract on the NYMEX natural gas futures market settled slightly higher from the previous close as an earlier rally lost steam on the back of muted stock optimism ahead of the release of key economic indicators later this week. Concerns over building inventories also offset expectations for high power sector demand throughout the ongoing heat wave affecting northern states.
ETHANE: higher at 24.375 cents/gal
Ethane spot prices were slight higher but steady from midday trading as natural gas futures had changed little.
AROMATICS: toluene flat at $3.75-3.90/gal, mixed xylenes flat at $3.85-4.00/gal
Activity was thin in the mixed xylenes (MX) and n-grade toluene market during the day. As a result, July spot prices were stable from the previous session.
OLEFINS: ethylene wider at 50-56 cents/lb, PGP higher at 61.50-62.75 cents/lb
US July ethylene bid/offer levels moved wider to 50-56 cents/lb, compared with a deal done the previous day at 54 cents/lb, tracking slightly long supply. US July polymer-grade propylene (PGP) bid/offer levels moved higher to 61.50-62.75 cents/lb from 61.00-62.00 cents/lb the previous day.
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