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EVENING SNAPSHOT - Americas Markets Summary

ICIS News : 22-Feb-13 23:03

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

CRUDE: Apr WTI: $93.13/bbl, up 29 cents; Apr Brent: $114.10/bbl, up 57 cents
NYMEX WTI crude futures posted light gains on profit taking from two consecutive sessions of steep losses. A rally in the stock market encouraged the short covering.

RBOB: Mar: $3.0796/gal, up 4.31 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures reversed recent declines as buying interest increased after the March prompt contract hit a new low at Thursday’s settlement.

NATURAL GAS: Mar: $3.291/MMBtu, up 4.5 cents
The Henry Hub benchmark for natural gas futures pushed nearly 5 cents higher after trading showed lacklustre movement throughout the day. Forecasts show colder-than-normal weather for much of the US, but key consuming regions in the northeast could expect warmer temperatures, which kept a check on the March 2013 forward price.

ETHANE: higher at 26.38-26.50 cents/gal
Ethane spot prices were slightly higher on Friday, but prices still remain more than 50% cheaper than they were this time in 2012.

AROMATICS: toluene flat at $4.35-4.50/gal, mixed xylene flat at $4.49-4.51/gal
Prompt n-grade toluene and mixed xylene (MX) spot prices were stable on Friday, sources said. Activity was thin, as no fresh trades were done.

OLEFINS: Feb ethylene offer up at 63 cents/lb; PGP offer up at 70 cents/lb
February ethylene was offered higher from a March deal done at 62 cents/lb on Thursday against a 60.75 cent/lb bid. Polymer-grade propylene (PGP) for February was offered up from a March deal done at 67 cents/lb on Thursday against a 68 cent/lb bid.

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By Staff Reporter
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