16 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: $107.46/bbl, up 13 cents; Sep Brent: $110.40/bbl, up 80 cents
NYMEX WTI futures finished up for the sixth consecutive session on reluctance to sell ahead of the weekend and despite modest losses on Wall Street. The violence in Egypt, which could affect the strategic Suez Canal, and weather factors in the Gulf of Mexico provided support. For the week, WTI was up by 1.4%.
RBOB: Sep $2.9675/gal, down 1.70 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower ahead of the weekend after trading in both positive and negative territory throughout the day. Week on week, RBOB futures are 5.93 cents/gal higher.
NATURAL GAS: Sep: $3.368/MMBtu, down 5.1 cents
The front month on the NYMEX natural gas market closed the week lower, sliding on the back of cooler near-term weather forecasts. Concerns over high production and increasingly robust inventories have been further strengthened in the aftermath of Thursday’s weekly gas storage report from the Energy Information Administration and US service company Baker Hughes’s latest rig count, which shows natural gas drilling units up for the second time in three weeks.
ETHANE: steady at 24.25 cents/gal
Ethane spot prices were steady, decoupling from weaker natural gas futures.
AROMATICS: toluene down at $3.80-3.90/gal, mixed xylenes wider at $4.08-4.15/gal
Prompt n-grade toluene spot prices were down to end the week. August n-grade toluene prices declined from $3.85-3.95/gal FOB (free on board) the previous session. Meanwhile, prompt MX spot prices were wider from $4.08-4.13/gal FOB the previous session as offers firmed.
OLEFINS: ethylene done flat at 55 cents/lb, RGP offered lower at 61.25 cents/lb
US August ethylene traded at 55 cents/lb on Friday, the fourth deal this week at that level and flat with the previous day’s one reported trade. US August refinery-grade propylene (RGP) offer levels fell to 61.25 cents/lb from 62.00 cents/lb the previous day.
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