EVENING SNAPSHOT - Americas Markets Summary

26 November 2008 22:48  [Source: ICIS news]

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

CRUDE: WTI $54.25/bbl, down 19 cents; BRENT $53.92/bbl, up $3.57
US crude futures slipped a few cents in after-hours electronic Globex trading after surging during the normal floor session. A round of short covering ahead of the Thanksgiving break drove January crude up to $54.86/bbl before retreating slightly.
*Brent reflects the value of the ICE settlement on the day.

NATURAL GAS: $6.878/MMBtu, up 49.2 cents
Natural gas futures prices skyrocketed on cold weather forecasts and a 66bn cubic foot drawdown in domestic inventories.

RBOB: $1.1798/gal, up 8.49 cents
Reformulated blendstock for oxygenate blending (RBOB) rallied around the gains in the crude oil market despite a 1.9m bbl build in domestic inventories.

BENZENE: US benzene was unchanged throughout the day at a notional 90-105 cents/gal FOB USG, amid market talk that December contracts were settled at $1.07/gal.

ETHYLENE: US ethylene for December traded at 17.00 cents/lb in line with a deal done on Tuesday.

PROPYLENE: No refinery-grade propylene (RGP) deals were heard. December RGP last traded on Friday at 14.50 cents/lb.

For more pricing intelligence please visit www.icispricing.com

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Author: Staff Reporter
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