18 July 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Aug WTI: $108.04/bbl, up $1.56; Sep Brent: $108.70/bbl, up 9 cents
NYMEX WTI crude futures rose sharply, tracking a rally in the stock market in response to released data showing a two-year high in factory activity in the key Mid-Atlantic region. For the past three weeks crude oil inventories have drawn down by 27m bbl in order to satisfy growing refining demand.
RBOB: Aug: $3.1098/gal, down 0.03 cent/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were mostly stable. The market continued to digest Wednesday’s US Energy Information Administration (EIA) report, which showed an unexpected rise in gasoline inventories, but a higher WTI crude futures settlement kept RBOB futures from falling further.
NATURAL GAS: Aug: $3.812/MMBtu; up 18.3 cents
The August contract on the NYMEX natural gas futures market surged on signs of rising demand after the EIA reported a lower than expected injection into US stocks for the week ended 12 July. Economic data showing improving factory output and falling crude inventories also boosted prices.
ETHANE: higher at 25.25 cents/gal
Ethane spot prices traded higher as it tracked strength in the Henry Hub natural gas futures market.
AROMATICS: toluene tighter at $3.85-3.95/gal, mixed xylenes up at $3.90-4.00/gal
Prompt n-grade toluene spot prices were discussed at $3.85-3.95/gal FOB (free on board) on Thursday, sources said. The range was tighter from $3.75-3.95/gal FOB the previous session. Prompt mixed xylenes (MX) spot prices were discussed at $3.90-4.00/gal FOB during the day. The range was up from $3.85-3.99/gal FOB the previous day.
OLEFINS: ethylene done higher at 54.50-54.75 cents/lb, RGP tighter at 56-57 cents/lb
US July ethylene traded twice on Thursday at 54.50 and 54.75 cents/lb, higher than the previous day’s high trade of 53.75 cents/lb. US refinery-grade propylene (RGP) bid/offer levels tightened to 56.0-57.0 cents/lb from 55.5-58.0 cents/lb the previous day.
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