30 September 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Monday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Nov WTI: $102.33/bbl, down 54 cents; Nov Brent: $108.37/bbl, down 26 cents
NYMEX WTI crude futures posted losses but settled well off the bottom of the range on concerns regarding the potential impact of a government shutdown on energy demand and the possibility of a last-minute agreement.
RBOB: Oct $2.6347/gal, down 4.15 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower on concern that a US government shutdown could mean slower economic growth in demand for commodities. The October contract expired at the end of Monday’s session, which put more trading focus on the November prompt contract.
NATURAL GAS: Nov: $3.56/MMBtu, down 2.9 cents
The November front-month contract on the NYMEX natural gas futures market closed down a couple of cents, despite an early afternoon rally that brought the contract up from a 2% loss on the back of an improved near-time demand outlook.
ETHANE: higher at 24.875-25.250 cents/gal
The ethane spot price range was higher on Monday despite a lower overall energy complex. The ethane spot market activity increased after Chevron Phillips Chemical restarted its Sweeny cracker in Texas over the weekend.
AROMATICS: benzene down at $4.23-4.32/gal
Prompt benzene spot prices were discussed at $4.23-4.32/gal FOB (free on board) during the day. The range was down from $4.27-4.35/gal FOB the previous session.
OLEFINS: ethylene done lower at 50.25 cents/lb, PGP tighter at 64.25-66.00 cents/lb
US ethylene traded at a 14-month low after a deal at 50.25 cents/lb on Monday, lower than the previous reported trade at 50.75 cents/lb done the previous Friday. US September polymer-grade propylene (PGP) bid/offer levels tightened to 64.25-66.00 cents/lb from 64.00-66.50 cents/lb to close the previous week.
For more pricing intelligence please visit www.icispricing.com
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