EVENING SNAPSHOT - Americas Markets Summary

06 September 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: $110.53/bbl, up $2.16; Oct Brent: $116.12/bbl, up 86 cents
NYMEX WTI crude futures finished up, spooked by reports of tightening security at various US embassies in the Middle East due to threats of terrorist retaliatory attacks. The market continued to factor in the possibility of a limited military engagement in Syria for the use of chemical weapons against its civilian population. The dollar fell against a basket of currencies, following the release of an underwhelming August jobs growth report.

RBOB: Oct $2.8537/gal, up 1.77 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher as it tracked gains in crude futures. A drop in the US unemployment rate also boosted RBOB futures.

NATURAL GAS: Oct $3.530/MMBtu, down 4.5 cents
The October front month contract on the NYMEX natural gas futures market extended Thursday’s loss into a second day, closing down nearly 5 cents/MMBtu as the market failed to shrug off concerns over high inventories and the impending start of the autumn slack demand season, despite the forecast for above-average temperatures over the next two weeks.

ETHANE: lower at 24.75 cents/gal
Ethane spot prices were lower, tracking lower natural gas futures.

AROMATICS: benzene up at $4.56-4.59/gal
Prompt benzene spot prices were discussed at $4.56-4.59/gal FOB (free on board) on Friday, sources said. The range was up slightly from $4.52-4.58/gal FOB the previous day.

OLEFINS: ethylene done higher at 54.75 cents/lb, PGP done lower at 65.5 cents/lb
US September ethylene traded at 54.750 cents/lb, higher than the previous reported deal at 53.375 cents/lb done late on Wednesday. US September polymer-grade propylene (PGP) traded lower at 65.5 cents/lb compared with the previous reported deal at 67.5 cents/lb done a week ago.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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