EVENING SNAPSHOT - Americas Markets Summary

03 February 2014 23:00 Source:ICIS News

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

CRUDE: Mar WTI: $96.43/bbl, down $1.06; Mar Brent: $106.04/bbl, down 36 cents
NYMEX WTI crude futures finished down, tracking a sell-off in the stock market in response to released data showing slowdown in manufacturing and in factory activity in the US and in China.

RBOB: Mar $2.6069/gal, down 2.45 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures for the March contract settled lower on Monday, its first day as the prompt month. RBOB followed crude oil futures lower, as a weak stock market and worries over slowing global economic growth pressured commodities prices.

NATURAL GAS: Mar $4.905/MMBtu, down 3.8 cents
The March contract closed the first trading session of the new week down for a third consecutive day as the market continued to readjust following the volatility that took contracts to four-year highs last week. However, unsettled weather forecasts should keep trade activity liquid over the coming weeks.

ETHANE: lower at 34.00 cents/gal
Ethane spot prices traded lower during the day, tracking weak natural gas futures.

AROMATICS: mixed xylene down at $3.57-3.64/gal, toluene wider at $3.64-3.72/gal
Prompt mixed xylene (MX) spot prices were discussed at $3.57-3.64/gal FOB (free on board) on Monday, sources said. The range was down from $3.64-3.66/gal FOB the previous session. Meanwhile, prompt toluene spot prices were discussed at $3.64-3.72/gal FOB, wider from $3.67-3.70/gal FOB on Friday.

OLEFINS: Feb ethylene offered lower at 54.5 cents/lb, Feb PGP done lower at 69 cents/lb
US February ethylene offer levels fell to 54.5 cents/lb from 55.0 cents/lb against no fresh bids. US February polymer-grade propylene (PGP) traded lower at 69.0 cents/lb, down from the previous reported trade at 71.5 cents/lb.

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By Staff Reporter