EVENING SNAPSHOT - Americas Markets Summary

04 April 2014 23:00 Source:ICIS News

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

CRUDE: May WTI: $101.14/bbl, up 85 cents; May Brent: $106.72/bbl, up 57 cents
NYMEX WTI crude futures finished up for the second consecutive session in response to released data showing strong growth in non-farm payrolls. A US Labor Department report showed private sector jobs rising in March, suggesting that the economy continues to gain traction after a strong winter season and despite the unemployment rate staying unchanged at 6.7%. Also providing underlying support, Libyan export terminals remained closed despite expectations that an agreement would be reached between the government and protesters.

RBOB: May $2.9313/gal, up 1.95 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures extended Thursday’s gains after the Labor Department said that the economy added 192,000 jobs in March. Higher crude futures also boosted RBOB.

NATURAL GAS: May $4.439/MMBtu, down 3.1 cents
The May contract settled the week down for the first time in three sessions, as bullish sentiment related to low inventory levels was offset by the milder weather outlook for the next 10 days across the US northeast and Midwest.

ETHANE: steady at 28.75 cents/gal
Ethane spot prices were steady on thin trading activity.

AROMATICS: mixed xylene tighter at $3.57-3.59/gal
April mixed xylene (MX) traded at $3.58/gal FOB (free on board) during the day, sources said. The deal took spot prices to $3.57-3.59/gal FOB, which was a tighter range compared with $3.50-3.60/gal FOB the previous session.

OLEFINS: ethylene wider at 51-53 cents/lb, PGP done higher at 68.375 cents/lb
US April ethylene bid/offer levels were heard at 51.00-53.00 cents/lb on Friday, wider compared with a trade the previous day at 51.25 cents/lb. US April polymer-grade propylene (PGP) was heard done at 68.375 cents/lb, up from the previous reported trade at 67.500 cents/lb on 2 April.

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By Staff Reporter