HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Feb WTI: $99.32/bbl, up 28 cents; Feb Brent: $111.77/bbl, up $1.48
NYMEX WTI crude futures finished up for the third consecutive session, driven by a strong rally in gasoline and ultra-low sulphur diesel futures. Rising refinery operations in order to satisfy domestic demand as well to take advantage of profitable exports provided underlying support. On the first session as front month, February WTI topped out at $99.40/bbl before retreating.
RBOB: Jan $2.7831/gal, up 4.30 cents
US reformulated blendstock for oxygen blending (RBOB) gasoline futures extended Thursday’s gains on higher crude futures and the Commerce Department’s report of stronger-than-expected growth in the US economy in the third quarter.
NATURAL GAS: Jan: $4.418, down 4.2 cents/MMBtu
Henry Hub futures for the US natural gas market slid lower at closing, following Thursday’s sharp rally on record-high storage withdrawals from underground inventories. Sustained cold weather had driven up demand for heating.
ETHANE: lower at 28.75-29.00 cents/gal
Ethane spot prices were lower ahead of the weekend, tracking weakness in natural gas futures.
AROMATICS: mixed xylenes tighter at $3.63-3.69/gal
Prompt mixed xylenes (MX) spot prices were at $3.63-3.69/gal FOB (free on board) on Friday, sources said. The range was tighter from $3.60-3.75/gal FOB the previous session.
US December ethylene was bid at 54.00 cents/lb, down from the previous day’s bid level of 57.75 cents/lb. US December polymer-grade propylene (PGP) bid/offer levels were steady at 71.0-74.5 cents/lb.
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