EVENING SNAPSHOT - Americas Markets Summary

18 July 2014 23:00 Source:ICIS News

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

CRUDE: Aug WTI: $103.13/bbl, down 6 cents; Sep Brent: $107.24/bbl, down 65 cents
NYMEX WTI crude futures eased as investors held onto profits, despite heightened geopolitical concerns following US sanctions against Russia as well as tensions in Libya and Iraq.

RBOB: Aug $2.8603/gal, down 2.14 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures reversed early morning gains to settle lower, tracking weaker crude futures. Week on week, RBOB is down by 4.82 cents/gal.

NATURAL GAS: Aug: $3.951/MMBtu, down 0.3 cent
The front month contract on the NYMEX natural gas futures market closed the week relatively unchanged from the previous day’s close, consolidating after Thursdays 4% loss as traders balanced improving near term demand indicators against the disappointing storage data reported earlier this week by the Energy Information Administration (EIA).

ETHANE: lower at 23 cents/gal
Ethane spot prices declined after natural gas futures fell below the $4/MMBtu mark on Thursday.

AROMATICS: mixed xylenes up at $3.95-4.05/gal
Prompt mixed xylenes (MX) spot prices were discussed at $3.95-4.05/gal on Friday, sources said. The range was up from bids at $3.90/gal the previous session.

OLEFINS: ethylene tighter at 60.5-64.0 cents/lb, RGP bid flat at 56.5 cents/lb
US July ethylene spot prices tightened on Friday to 60.5-64.0 cents/lb from 59.5-65.0 cents/lb the previous day. US July refinery-grade propylene (RGP) bid levels held firm at 56.5 cents/lb against no fresh offers on Friday.

For more pricing intelligence please visit www.icispricing.com

By Staff Reporter