31 July 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Sep WTI: $105.03/bbl, up $1.95; Sep Brent: $107.70/bbl, up 79 cents
NYMEX WTI crude futures rose sharply in response to the weekly Energy Information Administration (EIA) statistics showing that crude inventories at the storage hub in Cushing, Oklahoma, teach their lowest level since 2012. Stronger-than-expected private sector job creation and accelerating economic growth (GDP) also provided support.
RBOB: Aug $3.0442/gal, up 2.57 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher as Wednesday’s EIA report showed a gain in both gasoline inventories and consumption rates for the week ended 26 July. The August contract expired at the end of the session, and September will take over the prompt spot on Thursday.
NATURAL GAS: Sep $3.446/MMBtu; up 1.4 cents
The September contract broke its recent losing streak, closing in positive territory for the first time in six sessions. Low volumes marked a day of market uncertainty as participants await Thursday’s weekly storage report from the EIA.
ETHANE: steady at 25.25 cents/gal
Ethane spot prices were steady in morning trading. Sources said there was little buying activity early in the day.
AROMATICS: toluene wider at $3.82-3.93/gal
Prompt n-grade toluene spot prices changed little during the day. Price discussions were slightly wider from $3.82-3.92/gal FOB (free on board) the previous session, as bids held steady and offers gained 1 cent/gal.
OLEFINS: ethylene flat at 53.124-53.250 cents/lb, PGP higher at 65.75 cents/lb.
US July ethylene bid/offer levels remained flat at 53.125-53.250 cents/lb, with trades heard at 54.25 cents/lb. US July polymer-grade propylene (PGP) traded higher at 65.75 cents/lb.
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