Feedstock, Olefins and Aromatics
EVENING SNAPSHOT - Americas Markets Summary
ICIS News : 3-May-13 23:00
HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: June WTI: $95.61/bbl, up $1.62; June Brent: $104.19/bbl, up $1.34
NYMEX WTI crude futures rose following news of better-than-expected job growth in the US, which could help ease concerns about a slowdown in the economy. US employment figures boosted sentiment despite data showing weak manufacturing activity in the US and China.
RBOB: June: $2.8254/gal, up 4.48 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures prices were stronger in early trading on news that the US added a higher-than-expected 165,000 jobs in April. The unemployment rate fell to 7.5%.
NATURAL GAS: June: $4.041/MMBtu, up 1.6 cents
The June contract on the NYMEX natural gas futures market settled a turbulent week rising slightly, rallying after Thursday’s $0.30/MMBtu cent fall as the market reacted to strong employment data from the US Labor Department.
ETHANE: lower at 28.88 cents/gal
Ethane spot prices were lower on Friday. Supply and demand fundamentals have been stable this week with no major cracker outages.
AROMATICS: toluene up at $4.05-4.15/gal, mixed xylenes up at $4.05-4.15/gal
Prompt mixed xylenes (MX) and toluene spot prices were at parity to end the week, sources said. The jump was in line with stronger energy futures and demand. The MX price was up from $4.00-4.10/gal FOB (free on board) the previous day, while the toluene price was up from $4.00-4.05/gal FOB.
OLEFINS: ethylene higher at 53.5-56.5 cents/lb; RGP higher at 50.5-52.0 cents/lb
May ethylene bid/offer levels moved higher to 53.5-56.5 cents/lb on Friday, compared with levels seen at 50.0-56.0 cents/lb on Thursday. Bid/offer levels for May refinery-grade propylene (RGP) moved higher to 50.5-52.0 cents/lb, compared with trades the previous week at 50.0-51.0 cents/lb.
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By Staff Reporter
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