04 October 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Nov WTI: $103.84/bbl, up 53 cents; Nov Brent: $109.46/bbl, up 46 cents
NYMEX WTI crude futures closed out the week on a positive note, supported by the shutdown of oil and gas production in the US Gulf as precautionary measures ahead of Tropical Storm Karen. The gains were kept in check by concerns that a lengthy government shutdown would impact economic growth and energy demand.
RBOB: Nov $2.6076/gal, down 3.2 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline prices retreated as worries eased over Tropical Storm Karen and its potential impact on the US Gulf coast. The storm is not expected to reach hurricane strength before making landfall.
NATURAL GAS: Nov: $3.506/MMBtu, up 0.7 cent
The front month on the NYMEX natural gas futures market finished the week in positive territory, consolidating above the $3.50/MMBtu mark after losing 3% over two days earlier in the week. Concerns over slowing demand and high inventory levels were offset slightly by threat of production shut-ins as Tropical Storm Karen approaches the central Gulf coast.
ETHANE: steady at 24.50 cents/gal
Ethane spot prices were steady as demand and trading activity was thin on Friday.
AROMATICS: mixed xylenes wider at $4.05-4.25/gal
Prompt mixed xylenes (MX) spot prices were discussed at $4.05-4.25/gal FOB (free on board) during the day as bid/offer levels moved further apart. The range grew wider following a deal at $4.12/gal the previous session.
OLEFINS: ethylene done lower at 45.75 cents/lb, RGP tighter at 56.75-58.00 cents/lb
US October ethylene was traded at 45.75 cents/lb, its lowest since a deal done at 45.50 cents/lb in July 2012. US October refinery-grade propylene (RGP) bid/offer levels tightened to 56.75-58.00 cents/lb from 56.00-60.00 cents/lb the previous day.
For more pricing intelligence please visit www.icispricing.com
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