EVENING SNAPSHOT - Americas Markets Summary

16 June 2009 23:22  [Source: ICIS news]

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

CRUDE: July WTI: $70.47/bbl, down 15 cents; August Brent: $70.24/bbl (unchanged from Monday's August price future)
WTI (West Texas Intermediate) crude prices slipped to $70.09 in after-hours electronic trading after the weekly supply statistics from the American Petroleum Institute (API) revealed a much smaller-than-forecast drawdown in crude stocks and much greater-than-expected build in gasoline inventories. Floor trading had been extremely volatile in line with activity in the currency and stock markets.

NATURAL GAS: $4.129/MMBtu, down 5.3 cents
Natural gas futures prices dipped in NYMEX session trading on a weaker demand outlook.

RBOB: $2.0711/gal, up 1.81 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices rose on refinery problems and pipeline issues.

BENZENE: US benzene continued its slide to a notional $2.74-2.77/gal for June amid a lack of confirmed business. July material was talked at a 1-3 cent discount.

ETHYLENE: US spot ethylene for July delivery traded at 27.0 cents/lb. June ethylene last traded at 27.5 cents/lb on 12 June.

PROPYLENE: US refinery-grade propylene (RGP) for June delivery traded at 34.500 cents/lb, up from 34.375 cents/lb on 10 June.

For more pricing intelligence please visit www.icispricing.com

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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