HOUSTON (ICIS)--Here is Thursday’s end of day ?xml:namespace>
CRUDE: Mar WTI: $100.35/bbl, down 2 cents; Mar Brent: $108.73/bbl, down 6 cents
NYMEX WTI crude futures posted light losses after reversing direction in response to released downbeat economic data showing a rise in initial jobless claims and weak retail sales. The market could not sustain the previous day’s gains on the back of an upward revision of world oil demand forecast for 2014 from the Energy Information Administration (EIA) and OPEC. March Brent went off the board at the end of the session.
RBOB: Mar $2.7772/gal, up 1.41 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rose despite a disappointing jobs report and a slight drop in crude futures. A gain in heating oil futures boosted RBOB.
NATURAL GAS: Mar $5.223/MMBtu, up 40.1 cents
The front month on the NYMEX natural gas futures market rose over 8% after another large inventory withdrawal was reported by the Energy Information Administration for the week ending 7 February. Prices were already in positive territory due to short term supply concerns, following an overnight explosion at the Columbia Gulf pipeline in Kentucky.
ETHANE: higher at 38.75 cents/gal
Ethane spot prices were higher, following stronger natural gas futures.
AROMATICS: mixed xylenes flat at $3.75-3.84/gal, toluene flat at $3.75-3.80/gal
Activity for mixed xylenes and toluene markets was thin during the day, according to trade sources. Prices were steady as a result.
OLEFINS: ethylene lower at 50.0-52.0, PGP bid lower at 68.25 cents/lb
US February ethylene bid/offer levels moved to 50.0-52.0 cents/lb on Thursday, lower than the previous reported trade at 52.5 cents/lb on Wednesday. US polymer-grade propylene (PGP) bid levels fell to 68.25 cents/lb from 69.00 cents/lb the previous day while offers were flat at 71.00 cents/lb.
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