EVENING SNAPSHOT - Americas Markets Summary

20 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: $104.96/bbl, down $2.14; Oct Brent: $110.15/bbl, up 25 cents
NYMEX WTI crude futures fell sharply on length liquidation ahead of the front month contract expiring at the end of the session. The length liquidation overshadowed a rally in the stock market and the dollar shifting lower against the euro, factors that would have normally provided underlying support to commodity markets. Some of the selling was also attributed to expectations that the US Federal Reserve in the near future will start tapering the economic stimulus programme.

RBOB: Sep $2.9272/gal, down 0.61 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rebounded during midday trading, but a sharp decline in the WTI crude futures settlement caused RBOB to fall by the close of trading.

NATURAL GAS: Sep: $3.444/MMBtu, down 1.9 cents
NYMEX natural gas futures settled down a couple of cents from the previous day’s three-week high close as some traders looked to cash in on the markets recent price rises in expectation of another large inventory addition to be reported by the Energy Information Administration (EIA) later this week and the impending start of the autumn slow-demand period.

ETHANE: higher at 24.88 cents/gal
Ethane spot prices were higher on Tuesday, even as natural gas futures weakened slightly.

AROMATICS: toluene flat at $3.80-3.90/gal, mixed xylenes flat at $4.08-4.15/gal
August toluene and mixed xylenes (MX) price discussions were thin for the second consecutive day this week. As a result, toluene and MX remained flat from Friday.

OLEFINS: ethylene traded higher at 55.75 cents/lb, RGP tighter at 59.5-61.5 cents/lb
US August ethylene traded at 55.75 cents/lb, up from the previous week’s high of 55.00 cents/lb, tracking supply concerns from a possible cracker outage. US refinery-grade propylene (RPG) bid/offer levels tightened to 59.50-61.50 cents/lb from 59.25-61.75 cents/lb seen the previous week.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly