Corrected: EVENING SNAPSHOT - Americas Markets Summary

21 November 2013 23:00 Source:ICIS News

Correction: In the ICIS story headlined "EVENING SNAPSHOT - Americas Markets Summary" dated 21 November 2013, the RBOB close should read ... "$2.7438/gal, up 8.08 cents" ... instead of ... "$2.7152/gal, up 5.22 cents". A corrected version follows:

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

CRUDE: Jan WTI: $95.44/bbl, up $1.59; Jan Brent: $110.08/bbl, up $2.02
NYMEX WTI crude futures rose sharply in response to released economic data showing claims for unemployment benefits falling more than expected. Crude prices also received a boost from a strong rally in gasoline (RBOB) and diesel futures responding to Wednesday’s supply statistics from the Energy Information Administration (EIA) that showed a drawdown in gasoline and distillate inventories. 

RBOB: Dec: $2.7438/gal, up 8.08 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher on a decline in unemployment benefit claims. Encouraging jobs data is an indicator of improved commodity demand.

NATURAL GAS: Dec: $3.702/MMBtu, up 2.8 cents
The December front month closed up for a second straight session, boosted by bullish sentiment surrounding strong near-term demand and the first withdrawal from natural gas inventories of the 2013-14 winter heating season.

ETHANE: higher at 25.75 cents/gal
Ethane spot prices were higher on Thursday, tracking stronger natural gas futures.

AROMATICS: toluene tighter at $3.85-3.95/gal, mixed xylene tighter at $3.91-3.99/gal
Toluene spot prices were discussed at $3.85-3.95/gal FOB (free on board) during the day, sources said. The range was tighter from $3.80-4.00/gal FOB the previous day. Meanwhile, mixed xylene (MX) spot prices were at $3.91-3.99/gal FOB. The MX range was tighter from $3.90-4.10/gal FOB the previous day.

OLEFINS: ethylene done lower at 52.75 cents/lb, PGP done higher at 65.75 cents/lb
US November ethylene traded lower at 52.75 cents/lb on Thursday, compared with the lowest trade from the previous day at 53.00 cents/lb. November polymer-grade propylene (PGP) traded at 65.75 cents/lb, up from the previous reported trade of 64.75 cents/lb done earlier in the week.

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By Staff Reporter