22 August 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Oct WTI: $105.03/bbl, up $1.18; Oct Brent: $109.90/bbl, up 9 cents
NYMEX WTI crude futures rose on upside correction to three down sessions, which had placed the market in oversold territory and encouraged bargain hunting. Rallies in global stock markets also provided underlying support.
RBOB: Sep $2.9648/gal, up 2.71 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher on stronger crude and as the market remained influenced by Wednesday’s inventory report, which showed a larger-than-expected drop in gasoline stockpiles.
NATURAL GAS: Sep: $3.545/MMBtu, up 8.5 cents
The front month contract on the NYMEX natural gas futures market settled up over 2%, closing above the $3.50/MMBtu mark for the first time in nearly four weeks. The Energy Information Administration (EIA) reported the lowest weekly injection into gas stocks for five weeks in its storage report for the week ended 16 August.
ETHANE: lower at 24.750-25.125 cents/gal
Ethane spot prices were slightly lower despite a build in the overall energy complex.
AROMATICS: mixed xylenes up at $4.16-4.18/gal
Prompt mixed xylenes (MX) traded at $4.17/gal FOB (free on board) on Thursday, sources said. The deal was up from $4.08-4.15/gal FOB the previous day.
OLEFINS: ethylene traded lower at 54.75 cents/lb, PGP traded lower at 67 cents/lb
US August ethylene traded at 54.75 cents/lb on Thursday afternoon, lower than a trade the previous day at 56.00 cents/lb. US August polymer-grade propylene (PGP) traded at 67 cents/lb, down from the previous reported trade at 68 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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