EVENING SNAPSHOT - Americas Markets Summary

10 January 2014 23:00 Source:ICIS News

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

CRUDE: Feb WTI: $92.72/bbl, up $1.06; Feb Brent: $107.25/bbl, up 86 cents
NYMEX WTI crude futures finished up on pre-weekend correction after posting losses in seven of the last eight sessions. The rally was kept in check by lacklustre job growth revealed by the payrolls report.

RBOB: Feb $2.6691/gal, up 2.65 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures had mixed trading throughout the day, after the latest US jobs report showed a gain in December jobs, but the gains were much lower than economists expected. The RBOB higher settlement came on a gain in crude futures.

NATURAL GAS: Feb: $4.053/MMBtu, up 4.8 cents          
The front month contract on the NYMEX natural gas futures market closed the trading week up over 1%, rising through Friday trading to make up some of the ground lost by Thursday’s crash on bullish sentiment related to falling inventory levels. 

AROMATICS: mixed xylenes wider at $3.56-3.68/gal
Prompt mixed xylenes (MX) spot prices were discussed within a wider range during the day, compared with $3.58-3.68/gal FOB (free on board) from the previous session, as bids came down.

OLEFINS: ethylene offered higher at 58 cents/lb, PGP offered lower at 73 cents/lb
US ethylene offers rose to 58.00 cents/lb for January material compared with 56.75 cents/lb the previous day against no fresh bids. US January polymer-grade propylene (PGP) was offered lower at 73.00 cents/lb compared with 74.00 cents/lb the previous day, against bids at 70.75 cents/lb.

For more pricing intelligence please visit www.icispricing.com

By Staff Reporter