EVENING SNAPSHOT - Americas Markets Summary

24 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: Mar WTI: $96.64/bbl, down 68 cents; Mar Brent: $107.88/bbl, up 30 cents
NYMEX WTI crude futures fell on pre-weekend selling after four consecutive positive settlements. A sell-off in global stock markets on concerns regarding emerging markets pressured crude prices. A winter storm across most of the US propped up natural gas but had limited impact on crude prices.

RBOB: Feb $2.6632/gal, up 0.14 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled only slightly higher in mixed trading activity throughout the day on refinery outages and freezing temperatures, which caused heating oil futures to spike on Friday.

NATURAL GAS: Feb $5.182/MMBtu, up 45.2 cents/MMBtu
US natural gas futures on the NYMEX soared above the $5.00/MMBtu threshold, breaking through a new multi-year record for the front month as forecasts indicated prolonged cold weather conditions are expected to boost up heating demand. Tightening supplies due to increased demand and some production freeze-offs have also propelled the Henry Hub front month higher.

ETHANE: higher at 43.50 cents/gal
Ethane spot prices soared as natural gas futures broke through the $5.00/MMBtu on Friday.

AROMATICS: mixed xylene tighter at $3.59-3.61/gal, toluene tighter at $3.60-3.61/gal
Prompt US mixed xylene (MX) spot prices were at $3.59-3.61/gal FOB (free on board) on Friday, following a trade at $3.60/gal. The range was within the previous day’s range of $3.58-3.64/gal FOB. January toluene spot prices were discussed at $3.60-3.61/gal FOB during the day, within a tighter band compared with $3.60-3.68/gal FOB the previous session. February toluene also traded during the day at $3.63/gal, according to market participants.

OLEFINS: ethylene done higher at 59 cents/lb, RGP done lower at 63.125 cents/lb
US January ethylene traded at 59.00 cents/lb on Friday, up from the previous reported deal at 57.75 cents/lb on 23 January. US January refinery-grade propylene (RGP) traded at 63.125 cents/lb, down from the previous reported trade at 63.750 cents/lb.

For more pricing intelligence please visit www.icispricing.com.

By Staff Reporter