EVENING SNAPSHOT - Americas Markets Summary

23 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: Oct WTI: $106.42/bbl, up $1.39; Oct Brent: $111.04/bbl, up $1.14
NYMEX WTI crude futures extended the previous session’s gains on pre-weekend buying. A rally in the gasoline futures complex in response to various refinery issues in Canada and in the US provided underlying support. Stock markets also advanced, although modestly, and the US dollar fell against a basket of currencies.

RBOB: Sep $3.0072 /gal, up 4.24 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher on higher crude futures and reports of refinery outages. This was the first time the September contract traded above the $3/gal mark since it took over the prompt spot on 1 August.

NATURAL GAS: Sep: $3.485/MMBtu, down 6.0 cents
The front month contract on the NYMEX natural gas futures slipped back below the $3.50/MMBtu mark as the market corrected itself following Thursday's near 3% price surge. Bearish sentiment strengthened through the day on concerns over high production and low long-term demand, despite service company Baker Hughes reporting a slight fall in the number of drilling rigs being used across the US in its latest weekly rig count.

ETHANE: lower at 24.75 cents/gal
Ethane spot prices were slightly lower on a drop in natural gas futures trading.

AROMATICS: styrene flat at 76.00-77.00 cents/lb             
Prompt styrene spot prices were discussed at 76-77 cents/lb FOB (free on board) on Friday, sources said. The range was flat from a week earlier as supply remains tight and trade participants kept to the sidelines.

OLEFINS: ethylene traded lower at 54.5 cents/lb, PGP traded higher at 67.25 cents/lb
US August ethylene traded three times at 54.50 cents/lb, lower than the previous day’s trade at 54.75 cents/lb, as supply concerns eased. US August polymer-grade propylene (PGP) traded at 67.25 cents/lb on Friday afternoon, higher than the previous day’s trade of 67.00 cents/lb but lower than an early-Friday trade at 67.50 cents/lb.

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