02 August 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Sep WTI: $106.94/bbl, down 95 cents; Sep Brent: $108.95/bbl, down 59 cents
NYMEX WTI crude futures experienced a round of pre-weekend selling on sentiment that a strong two-day rally had been overdone. Released data showing the unemployment rate down to 7.4%, the lowest in four years, was overshadowed by disappointing job growth that missed expectations. The mixed signals pressured the stock market and weakened the dollar.
RBOB: Sep $2.9947/gal, down 3.37 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled below the $3/gal mark on weaker crude futures and disappointing jobs data from the US Department of Labor.
NATURAL GAS: Sep: $3.347/MMBtu, down 4 cents
The Henry Hub natural gas futures benchmark slid lower on Friday, continuing to drag down the five-month low of the front-month marker. A slump in natural gas demand from forecasts showing moderate temperatures this summer and high inventory levels have kept gas futures from any uptick.
ETHANE: lower at 25.00 cents/gal
Ethane spot prices were lower, tracking weaker natural gas futures.
AROMATICS: toluene down at $3.80-3.90/gal, mixed xylene up at $4.01-4.09/gal
Prompt toluene spot prices were discussed within a lower range during the day, sources said. The prompt n-grade toluene market was talked down from $3.85-3.95/gal FOB (free on board) the previous session. Meanwhile, prompt mixed xylene (MX) price discussions were at $4.01-4.09/gal FOB during the day. The range was up from $4.00-4.05/gal FOB on Thursday.
OLEFINS: ethylene flat at 53.124-53.250 cents/lb, PGP flat at 65.75 cents/lb
US August ethylene bid/offer levels remained flat at 53.125-53.250 cents/lb. US August polymer-grade propylene (PGP) bid/offer levels remained flat at 65.75 cents/lb.
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