EVENING SNAPSHOT - Americas Markets Summary

24 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: Nov WTI: $103.13/bbl, down 46 cents; Nov Brent: $108.64/bbl, up 48 cents
NYMEX WTI crude futures finished down for the fourth consecutive session in response to rising oil production in Iraq and Libya and easing geopolitical tensions regarding Syria and Iran. The looming government shutdown if US congressional budget negotiations fail is also being watched. 

RBOB: Oct: $2.6592/gal, up 3.62 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures for the October prompt month settled higher despite mixed trading throughout the morning. Analysts are expecting a drawdown of 1m bbl in gasoline inventories in Wednesday’s US Energy Information Administration (EIA) report, which helped raise RBOB prices.

NATURAL GAS: Oct: $3.492/MMBtu, down 11 cents/MMBtu
Natural gas futures on the NYMEX continued their decline on Tuesday as weather forecasts are showing minimal cooling demand and no sign of any early heating demand. 

ETHANE: lower at 24.125-24.250 cents/gal
Ethane spot prices fell from their morning trades on declines in natural gas futures.

AROMATICS: mixed xylene up at $4.16-4.18/gal
US MX spot prices were up following a deal at $4.17/gal FOB (free on board) on Tuesday, sources said. The deal was up from a trade at $4.16/gal FOB the previous session.

OLEFINS: ethylene done flat at 52.125 cents/lb, RGP done higher at 57.50-57.75 cents/lb
US September ethylene traded at 52.125 cents/lb for the second consecutive day on balanced supply and demand. US September refinery-grade propylene (RGP) traded at 57.50 cents/lb and 57.75 cents/lb on Tuesday, higher than the previous day’s trade at 57.25 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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