EVENING SNAPSHOT - Americas Markets Summary

03 September 2013 23:00  [Source: ICIS news]

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

CRUDE: Oct WTI: $108.54/bbl, up 89 cents; Oct Brent: $115.68/bbl, up $1.35
NYMEX WTI crude futures recouped early losses and rose sharply on sentiment that the US Congress will approve an attack on Syria. Reports that Israel had tested a missile system in the Mediterranean unnerved the market. Released economic data showing expansion in the US construction and manufacturing sectors propped up the dollar.

RBOB: Oct $2.8646/gal, down 2.55 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline settled lower as the October contract took over the prompt trading spot. Prices dropped to levels seen in early August as some of the build up last month began to taper.

NATURAL GAS: Oct: $3.666/MMBtu, up 8.5 cents
The October natural front month contract on the NYMEX closed the first trading session since the Labor Day holiday at its highest level in nearly six weeks as the near-term outlook for above-average temperatures lifted bullish sentiment.

ETHANE: lower at 26.25 cents/gal
Ethane spot prices were slightly lower, decoupling from stronger natural gas futures.

AROMATICS: toluene up at $4.05-4.20/gal, mixed xylene tighter at $4.32-4.38/gal
US September n-grade toluene prices were at $4.05-4.20/gal FOB (free on board) on Tuesday, sources said. The range was up from $4.00-4.15/gal FOB on Friday. Meanwhile, US September mixed xylene (MX) bid/offers were at $4.32-4.38/gal FOB, sources said. The MX range was tighter from $4.25-4.40/gal FOB the previous session.

OLEFINS: Sep ethylene done lower at 55 cents/lb, Sep PGP bid higher at 65 cents/lb
US September ethylene traded at 55.0 cents/lb, lower than the previous reported deal at 55.5 cents/lb done during the previous week. US September polymer-grade propylene (PGP) bid levels increased to 65.0 cents/lb from 64.5 cents/lb at the close of the previous week.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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