HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jan WTI: $97.65/bbl, up 27 cents; Jan Brent: $111.61/bbl, up 63 cents
NYMEX WTI crude futures posted light gains on the day but finished up for the sixth consecutive session, driven by the release of another round of upbeat economic data suggesting a stable rate of recovery, which would translate into greater energy demand. The market’s bias remains to the upside but approaching overbought territory.
RBOB: Jan $2.7269/gal, up 1.42 cents/gal
US reformulated blendstock for oxygen blending (RBOB) gasoline futures rebounded after two straight sessions of mild losses. RBOB drew strength from crude futures and positive economic statistics.
NATURAL GAS: Jan $4.114/MMBtu; down 1.8 cents
The January front month on the NYMEX retreated slightly following Thursday's 4% gain on slightly warmer than initially predicted forecasts for mid-December, beyond the cold spell currently affecting much of the US.
ETHANE: steady at 26.50 cents/gal
Ethane spot prices were steady as demand from petrochemical plants remained stable.
AROMATICS: toluene down at $3.55-3.76/gal
Prompt toluene spot prices were discussed within a lower range during the day, sources said. The afternoon toluene range was down from $3.72-3.85/gal FOB (free on board), the previous session.
OLEFINS: ethylene higher at 55.5-56.5 cents/lb, PGP done higher at 71 cents/lb
US December ethylene bid/offer levels moved to 55.5-56.5 cents/lb, up from the previous day when bid levels were at 54.0 cents/lb against no fresh offers. US December polymer-grade propylene (PGP) traded higher at 71.0 cents/lb, up from a trade the previous day at 70.5 cents/lb.
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