17 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: $105.42/bbl, down $1.17; Nov Brent: $108.19/bbl, down $1.88
NYMEX WTI crude futures dipped for the third consecutive session in search of a near-term bottom as geopolitical tensions eased. A sell-off in gasoline futures also pressured prices. Investors also waited for a decision from the US Federal Reserve with regards to the economic stimulus programme.
RBOB: Oct $2.6611/gal, down 5.55 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures slipped to a nine-month low as the season shift from summer to winter grade gasoline caused an oversupply in the near-term market.
NATURAL GAS: Oct: $3.745/MMBtu, up 0.7 cent
The October front month contract settled at a fresh eight-week high, after a session in which futures trading fluctuated between positive and negative territory due to uncertainty surrounding the full extent of near-term demand.
ETHANE: steady at 24.75 cents/gal
Ethane spot prices continued to trade at this level as demand has stabilised, with no reported major cracker outages or start-ups.
AROMATICS: mixed xylenes down at $4.00-4.10/gal
Prompt mixed xylenes (MX) traded at $4.09/gal early in the day, before moving down to $4.00-4.10/gal in the afternoon. The afternoon range was down from $4.10-4.17/gal FOB (free on board) the previous session.
OLEFINS: ethylene done lower at 53.00 cents/lb, RGP done higher at 56.75 cents/lb
US September ethylene traded at 53.0 cents/lb on Tuesday afternoon, consolidating a decline from Monday’s lone reported trade at 54.5 cents/lb. US refinery-grade propylene (RGP) traded at 56.75 cents/lb, up from the previous reported trade of 56.50 cents/lb, which was done during the previous week.
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