EVENING SNAPSHOT - Americas Markets Summary

16 October 2013 23:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Wednesday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Nov WTI: $102.29/bbl, up $1.08; Nov Brent: $110.86/bbl, up 90 cents
NYMEX WTI crude futures rallied in response to reports that the US Congress had reached an agreement and was expected to vote on a deal to re-open the government and raise the debt ceiling. The stock market surged, and the dollar rose against a basket of currencies on the euphoria.

RBOB: Nov $2.7021/gal, up 4.23 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher on the back of crude futures and as reports that the US government will raise the debt ceiling and re-open.

NATURAL GAS: Nov: $3.769/MMBtu, down 2.1 cents
NYMEX natural gas futures closed down after crashing nearly 2% in the last hour of trading on concerns that the front month contract may be overbought in the face of robust inventory levels and strong production output.

ETHANE: higher at 25.88 cents/gal
Ethane spot prices ticked up despite a drop late in the day in natural gas futures.

AROMATICS: toluene wider at $3.40-3.65/gal, mixed xylene down at $4.00-4.05/gal
Prompt toluene price discussions were at $3.40-3.65/gal FOB (free on board) on Wednesday, sources said. The range was wider from $3.40-3.60/gal FOB the previous day, as offers firmed. Meanwhile, prompt mixed xylene (MX) spot prices were discussed at $4.00-4.05/gal FOB, sources said. The range was down from $4.04-4.06/gal FOB on Tuesday when business was confirmed at $4.05/gal FOB.

OLEFINS: ethylene done higher at 45.5 cents/lb, RGP tighter at 56-58 cents lb
US October ethylene traded higher at 45.5 cents/lb compared with the previously reported trade at 44.0 cents/lb. US refinery grade propylene (RGP) moved to 56-58 cents/lb from 54-58 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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