EVENING SNAPSHOT - Americas Markets Summary

25 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: Dec WTI: $97.85/bbl, up 74 cents; Dec Brent: $106.93/bbl, down 6 cents
NYMEX WTI crude futures finished up on pre-weekend short covering, extending the correction from a sell-off earlier in the week as a result of rising inventories.

RBOB: Nov $2.5871/gal, down 0.25 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline settled slightly lower on Friday, reversing Thursday’s positive settlement as concerns of supply following a Midwest refinery fire waned.

NATURAL GAS: Nov: $3.707MMBtu: up 7.8 cents
NYMEX natural gas future closed the week surging 2% to the highest daily rise in nine sessions, boosted by expectations of strong near-term demand from the power sector and residential sectors due to falling temperatures in the east and Midwest. The rise came despite US service company Baker Hughes reporting a second consecutive jump in the number of natural gas drilling rigs in use across the lower 48 states.

ETHANE: higher at 25.75-26.00 cents/gal
Ethane spot prices were higher, tracking stronger natural gas futures.

AROMATICS: styrene flat at 68.75-69.25 cents/lb
US November styrene spot activity was thin during the day, with some trade participants away from the market for an industry function. As a result, spot prices were flat form the previous session.

OLEFINS: ethylene steady at 46.5-48.0 cents/lb, PGP wider at 62.5-64.0 cents/lb
US October ethylene bid/offer levels held steady at 46.5-48.0 cents/lb as the recent rally continued to hold onto its momentum. US October polymer-grade propylene (PGP) bid/offer levels widened to 62.500-64.000 cents/lb from 62.625-63.250 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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