23 October 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--Here is Wednesday’s end of day ?xml:namespace>
CRUDE: Dec WTI: $96.86/bbl, down $1.44; Dec Brent: $107.80/bbl, down $2.17
NYMEX WTI crude futures finished down for the third consecutive session in response to the weekly supply statistics from the Energy Information Administration (EIA), which showed a much greater-than-forecast build in crude inventories. A build in crude oil supplies at the NYMEX delivery hub in Cushing, Oklahoma, also pressured WTI, overshadowing a much greater-than-forecast drawdown in gasoline inventories.
RBOB: Nov $2.5523/gal, down 6.44 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower on a drop in crude futures and lower gasoline consumption rates reported in the EIA’s latest release.
NATURAL GAS: Nov: $3.619MMBtu, up 3.8 cents
NYMEX natural gas bounced back from two consecutive losing sessions to finish up 1% from the start of the day. Expectations for strong near-term demand from the power sector underpinned bullish sentiment, helping the front month recover from the 5% slump registered over the first two days of the week.
ETHANE: wider at 25.25-25.50 cents/gal
The ethane spot prices range was slightly lower on Wednesday but held within this week’s trade levels as market conditions are stable.
AROMATICS: mixed xylene down at $3.60-3.73/gal
Prompt MX price discussions were at $3.60-3.73/gal FOB (free on board) on Wednesday, sources said. The range was down from $3.75-3.90/gal FOB the previous day.
OLEFINS: ethylene wider at 45.0-48.5 cents/lb, PGP wider at 64.00-64.75 cents/lb
US October ethylene bid/offer levels moved to 45.0-48.5 cents/lb, wider than the previous day’s two reported deals at 46.00 and 46.25 cents/lb. US October polymer-grade propylene (PGP) bid/offer levels widened to 64.00-64.75 cents/lb, compared with the previous reported deal at 64.50 cents/lb a day ago.
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