EVENING SNAPSHOT - Americas Markets Summary

11 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: $102.02/bbl, down 99 cents; Nov Brent: $111.28/bbl, down 52 cents
NYMEX WTI futures gave back a portion of Thursday’s gains as the International Energy Agency (IEA) lowered its oil demand outlook for 2014. However, the dip was mitigated by strength in US equity markets and continued optimism that US lawmakers will soon find common ground on raising the debt ceiling and resolve the partial government shutdown.

RBOB: Nov $2.6681/gal, down 3.00 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures gave back some of their losses from Thursday as crude futures fell on an outlook for lower oil demand. 

NATURAL GAS: Nov: $3.776/MMBtu, up 5.3 cents
NYMEX natural gas futures closed the week up, with the front month settling at near three-month high, on continued bullish sentiment regarding injections into natural gas storage facilities and expectations for robust demand based on nuclear power outages and cooling temperature forecasts.

ETHANE: steady at 25.50 cents/gal
Ethane spot prices were steady despite stronger natural gas futures.

AROMATICS: mixed xylene flat at $4.11-4.13/gal
Prompt mixed xylene (MX) traded at $4.12/gal FOB (free on board) during the day, sources confirmed. It was the second consecutive day that MX traded at $4.12/gal FOB.

OLEFINS: ethylene wider at 42-45 cents/lb, PGP wider at 61-62 cents/lb
US October ethylene bid/offer levels moved to 42.000-45.000 cents/lb on Friday compared with a trade the previous day at 43.625 cents/lb. US October polymer-grade propylene (PGP) bid/offer levels were wider at 61-62 cents/lb compared with a trade at 61 cents/lb the previous day.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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