EVENING SNAPSHOT - Americas Markets Summary

14 February 2014 23:00 Source:ICIS News

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

CRUDE: Mar WTI: $100.30/bbl, down 5 cents; Apr Brent: $109.08/bbl, up 56 cents
NYMEX WTI crude futures drifted lower on pre long-weekend selling in response to released data showing a drop in retail sales and in manufacturing output. A rally in the stock market put a floor on the retracement. WTI traded in thin volume and within the previous session’s high/low range while searching for a comfort level.

RBOB: Mar $2.8053/gal, up 2.81 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rebounded from morning trades that were in negative territory as buying increased in preparation of the long holiday weekend. Week on week, RBOB futures are 5.64 cents/gal higher.

NATURAL GAS: Mar $5.214/MMBtu, down 0.9 cent
The front month on the NYMEX natural gas futures market closed the day posting a slight loss, falling in the afternoon from bullish positions registered earlier in the day on concerns over milder weather forecasts for the second half of February.

ETHANE: higher at 40.00 cents/gal
Ethane spot prices rose on increased buying activity on Friday.

AROMATICS: mixed xylenes wider at $3.75-3.85/gal, toluene up at $3.77-3.86/gal
US mixed xylenes (MX) spot prices were discussed at $3.75-3.85/gal FOB (free on board) on Friday, trade sources said. The range was wider from $3.75-3.84/gal FOB the previous session. Prompt n-grade toluene spot prices were discussed at $3.77-3.86/gal FOB on Friday, sources said. The range was up from $3.75-3.80/gal FOB the previous session.

OLEFINS: ethylene at 50 cents/lb, PGP at 69.25 cents/lb
US February ethylene was assessed at 50 cents/lb on Friday, based on the most recent reported trade done on 13 February, as prices trended lower. US February polymer-grade propylene (PGP) was assessed at 69.25 cents/lb, based on the most recent reported trade done on 13 February, with prices steady to slightly softer.

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By Staff Reporter