EVENING SNAPSHOT - Americas Markets Summary

24 April 2014 23:00  [Source: ICIS news]

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

CRUDE: Jun WTI: $101.94/bbl, up 50 cents; Jun Brent: $110.33/bbl, up $1.22
NYMEX WTI crude futures rose on a corrective bargain hunting following two consecutive down days and tracking a Brent rally in response to the Ukraine crisis and North Sea field maintenance curtailing output.

RBOB: May $3.0895/gal, down 0.40 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower despite gains in both crude oil and heating oil futures. A weak jobless benefits report influenced the RBOB settlement, which had been trading in positive territory during morning hours.

NATURAL GAS: May $4.705/MMBtu, down 2.5 cents
The front month contract closed down for the second consecutive session, as a bearish storage report and milder weather forecasts for the second week of May weighed the market down.

ETHANE: steady at 30.00 cents/gal
Ethane spot prices levelled out after a slight increase in the morning, following weaker natural gas futures.

AROMATICS: toluene wider at $3.50-3.60/gal, mixed xylene wider at $3.52-3.60/gal
Prompt toluene spot prices were discussed within a wider range during the day, sources said. The day’s toluene range was further apart from $3.53-3.55/gal FOB (free on board) the previous session. US mixed xylene (MX) spot prices were also discussed within a wider range during the day. MX spot prices were wider from $3.55-3.57/gal FOB the previous day.

OLEFINS: ethylene wider at 55.25-56.25 cents/lb, PGP done flat at 68.5 cents/lb
US April ethylene was assessed wider at 55.25-56.25 cents/lb, reflecting the range of deals done the previous day as no fresh bids or offers were heard on Thursday. US April polymer-grade propylene (PGP) traded twice at 68.5 cents/lb, flat with the previous reported trade done on 23 April.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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