EVENING SNAPSHOT - Americas Markets Summary

23 May 2014 23:00 Source:ICIS News

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

CRUDE: Jul WTI: $104.35/bbl, up 61 cents; Jul Brent: $110.54/bbl, up 18 cents
NYMEX WTI crude futures finished up on pre-long-weekend buying, boosted by upbeat economic data from China and the US driving the stock market higher. A stronger dollar eventually helped cap the rally, with WTI topping out at $104.50/bbl before retreating.

RBOB: Jun $3.0235/gal, up 1.77 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher on stronger crude and pre-weekend buying ahead of the long holiday weekend.

NATURAL GAS: Jun $4.405/MMBtu, up 4.6 cents
The front month contract on the NYMEX natural gas futures market closed the trading week back above the $4.40/MMBtu threshold after a 1% rise ate into the losses recorded earlier this week. Weather forecasts predict warmer than average temperatures across the US for much of the next two weeks.

ETHANE: higher at 28.75 cents/gal
Ethane spot prices moved slightly higher with natural gas futures.

AROMATICS: toluene flat at $3.50-3.60/gal, mixed xylenes flat at $3.50-3.60/gal
Activity was thin for US aromatics the fifth consecutive day in a row this week. There were no fresh trades heard during the day. Many trade participants were out of the market ahead of the extended holiday weekend.

OLEFINS: ethylene lower at 52.0-55.5 cents/lb, PGP bid higher at 66.5 cents/lb
US May ethylene bid/offer levels fell slightly to 52.00-55.50 cents/lb from 53.50-56.25 cents/lb on Friday as market activity was thin. US May polymer-grade propylene (PGP) was bid higher at 66.5 cents/lb from 64.0 cents/lb, while offers were steady at 68.0 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By Staff Reporter