Correction: In the ICIS story headlined “EVENING SNAPSHOT - Americas Markets Summary” dated 11 July 2014, please read in the third paragraph … RBOB: Aug $2.9085 gal, down 4.91 cents … instead of … RBOB: Aug $2.9172/gal, down 4.04 cents. A corrected story follows.
HOUSTON (ICIS)--Here is Friday’s end of day ?xml:namespace>
CRUDE: Aug WTI: $100.83/bbl, down $2.10; Aug Brent: $106.66/bbl, down $2.01
NYMEX WTI crude futures plunged on pre-weekend selling, finishing down for the third consecutive week and reversing the previous session’s upward correction on sentiment that near-term supplies are adequate and that concerns regarding various potential geopolitical disruptions to oil production and exports have eased. Technical barriers were penetrated, triggering sell stops. WTI bottomed out at $100.44/bbl before rebounding.
RBOB: Aug $2.9085 gal, down 4.91 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures reversed Thursday’s gains as demand softened in a well-supplied market and crude futures fell.
NATURAL GAS: Aug $4.146/MMBtu, up 2.6 cents
The August contract on the NYMEX natural gas futures market closed the week in positive territory, rising for the first time in five sessions on the back of the slightly improved temperature outlook for late July.
ETHANE: higher at 25.63 cents/gal
Ethane spot prices rose on stronger natural gas futures. However, demand remains weak, as cracker outages are ongoing.
OLEFINS: ethylene done higher at 63 cents/lb, PGP wider at 66.0-67.5 cents/lb
US July ethylene traded twice at 63 cents/lb on Friday, up from the previous reported trade at 62 cents/lb earlier in the day. US July polymer-grade propylene (PGP) bid/offer levels were at 66.00-67.50 cents/lb, wider than a trade the previous day at 66.25 cents/lb.
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