EVENING SNAPSHOT - Americas Markets Summary

07 October 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: $103.03/bbl, down 81 cents; Nov Brent: $109.68/bbl, up 22 cents
NYMEX WTI crude futures drifted lower, tracking a sell-off in the stock market as the US government shutdown continued. Tropical Storm Karen was downgraded during the weekend, and the Seaway Pipeline resumed pumping crude oil from the hub in Cushing, Oklahoma, to the Gulf coast after a brief outage.

RBOB: Nov $2.6261/gal, up 1.85 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rebounded by the end of the trading day.

NATURAL GAS: Nov $3.629/MMBtu: up 12.3 cents
The front month on the NYMEX natural gas futures market began the new week rising nearly 4% on the back of bullish sentiment surrounding reduced production from the US Gulf in the aftermath of Tropical Storm Karen as well as rising demand from the power sector due to maintenance work on nuclear power plants.

ETHANE: higher at 24.88 cents/gal
Ethane spot prices edged up as natural gas futures rallied.

AROMATICS: mixed xylenes down at 4.07-4.12/gal
Prompt mixed xylenes (MX) spot prices were lower during the day, sources said. The day’s range was down from $4.11-4.13/gal FOB (free on board) on Friday.

OLEFINS: ethylene offered lower at 47.25 cents/lb, PGP done lower at 63.25 cents/lb
US October ethylene was offered lower at 47.25 cents/lb, down from levels at 47.75-48.00 cents/lb to close the previous week. US October polymer-grade propylene (PGP) traded lower at 63.25 cents/lb compared with the previous three reported trades at 65.00 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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