Corrected: EVENING SNAPSHOT - Americas Markets Summary

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

Correction: In the ICIS story headlined “EVENING SNAPSHOT - Americas Markets Summary” dated 22 October 2013, please read in the sixth paragraph “… mixed xylenes wider at $3.75-3.90/gal …” instead of “… toluene …” and “… mixed xylenes spot prices were discussed at $3.75-3.90/gal FOB …” instead of “… prompt n-grade toluene …” A corrected story follows.

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

CRUDE: Nov WTI: $97.80/bbl, down $1.42; Dec Brent: $109.97/bbl, up 33 cents
NYMEX WTI crude futures experienced an aggressive round of length liquidation ahead of the front month contract going off the board at the end of the session. The market also continued to factor in the supply statistics from the Energy Information Administration (EIA), which were released on Monday for the week ended 11 October, showing a much greater-than-forecast build in crude inventories. The sell-off overshadowed a weaker dollar and a rally in the stock market.

RBOB: Nov $2.6167/gal, down 3.71 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower, tracking the downward movement in crude futures and in response to the jobs report, which showed a disappointing number of jobs were added in the US in September.

NATURAL GAS: Nov $3.581/MMBtu, down 8.7 cents
NYMEX natural gas futures slumped over 2% for a second straight session, falling in the aftermath of the EIA’s latest weekly gas storage report, which showed inventory levels continuing to grow at a strong pace over the week ended 11 October, as well as on concerns surrounding the bearish demand outlook for early November. 

ETHANE: higher at 25.50 cents/gal
Ethane spot prices were slightly higher as an industry event had several trade participants out of the market after morning trading.

AROMATICS: mixed xylenes wider at $3.75-3.90/gal
Mixed xylenes spot prices were discussed at $3.75-3.90/gal FOB (free on board) during the day, sources said. The range was wider following a deal at $3.85/gal FOB the previous session.

OLEFINS: ethylene done higher at 46.25 cents/lb, PGP done higher at 64.5 cents/lb
US October ethylene traded higher at 46.25 cents/lb on Tuesday, up from its previous trade at 45.50 cents/lb from the previous week. US October polymer-grade propylene (PGP) traded higher at 64.5 cents/lb compared with 61.0 cents/lb done more than a week ago.

For more pricing intelligence please visit www.icispricing.com


By: Staff Reporter
+44 20 8652 3214



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