EVENING SNAPSHOT - Americas Markets Summary

06 August 2013 23:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Tuesday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Sep WTI: $105.30/bbl, down $1.26; Sep Brent: $108.18/bbl, down 52 cents
NYMEX WTI crude futures fell as the geopolitical risk premium eased, following reports that the recently elected president of Iran was willing to negotiate over the country's nuclear programme. WTI also tracked gasoline (RBOB) futures down in response to a sell-off in ethanol fuel blending credits.

RBOB: Sep $2.9151/gal, down 3.55 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower on a sell-off in ethanol RIN credits and a possible weekly drawdown of 250,000 bbl in gasoline inventories in the US Energy Information Administration (EIA) report to be released on Wednesday.

NATURAL GAS: Sep: $3.318/MMBtu, down 0.1 cent
The front month on the NYMEX natural gas market fell for a fourth straight session as uncertainty over demand based on the milder near-term temperature outlook and its likely impact on underground storage levels kept price volatility to a minimum.

ETHANE: steady at 25.00 cents/gal
Ethane spot prices were steady in early trading, tracking natural gas futures.

AROMATICS: toluene wider at $3.75-3.85/gal, mixed xylenes tighter at $4.05-4.10/gal
Prompt toluene spot prices were discussed within a wider range during the day, sources said. Bid/offers were further apart from $3.79-3.81/gal FOB (free on board) the previous session. Meanwhile, mixed xylenes (MX) spot prices were discussed within a tighter range during the day as bids firmed against stable offers. Prompt MX spot prices narrowed from $4.00-4.10/gal FOB the previous day.

OLEFINS: ethylene done lower at 52.5 cents/lb, RGP done higher at 60 cents/lb
US August ethylene was done lower four times at 52.5 cents/lb compared with the previous day’s deal of 53.0 cents/lb. US August refinery-grade propylene (RGP) traded at a five-month high of 60 cents/lb, up from the previous reported deal at 58 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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