11 September 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Oct WTI: $107.56/bbl, up 17 cents; Oct Brent: $111.50/bbl, up 25 cents
NYMEX WTI crude futures posted light gains after two sessions of steep losses on sentiment that the sell-off had been overdone. A rally in the stock market and a drawdown in crude inventories revealed by the weekly supply statistics from the Energy Information Administration (EIA) also provided underlying support.
RBOB: Oct $2.7122/gal, down 2.53 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower after the latest EIA report showed a build in gasoline inventories and lower consumption rates.
NATURAL GAS: Oct: $3.567/MMBtu: down 1.7 cents
The October front month contract on the NYMEX settled down for a second straight session, losing value on the softening demand outlook as higher temperatures ease. Concerns over high production are ongoing as tropical storm activity in the Atlantic looks set to miss the Gulf, easing potential disruption.
ETHANE: higher at 24.75 cents/gal
Ethane spot prices were slightly higher as buying activity picked up.
AROMATICS: toluene tighter at $4.13-4.25/gal, mixed xylenes down at $4.15-4.20/gal
Prompt n-grade toluene spot prices were discussed at $4.13-4.25/gal FOB (free on board) during the midweek as bids firmed. The toluene range was tighter from $4.10-4.25/gal FOB the previous day. Meanwhile, mixed xylenes (MX) spot prices were discussed at $4.15-4.20/gal FOB, down from $4.26-4.36/gal FOB the previous session.
OLEFINS: ethylene done lower at 53.25 cents/lb, PGP done higher at 66 cents/lb
US September ethylene traded at 53.25 cents/lb on Wednesday afternoon, lower than a deal done earlier in the day at 53.50 cents/lb, as supply improved. US polymer-grade propylene (PGP) was done at 66.000 cents/lb, up from the highest deal done on Tuesday at 64.625 cents/lb.
For more pricing intelligence please visit www.icispricing.com
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