EVENING SNAPSHOT - Americas Markets Summary

21 February 2014 23:00 Source:ICIS News

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

CRUDE: Apr WTI: $102.20/bbl, down 55 cents; Apr Brent: $109.85/bbl, down 45 cents
NYMEX WTI crude futures posted losses on pre-weekend selling driven by a selloff in heating oil futures in response to milder weather in parts of the country and a disappointing report on home sales. A weak dollar and geopolitical issues put a floor on the losses.

RBOB: Mar $2.8333/gal, down 1.33 cents
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower on a weaker overall energy complex, led by a selloff in heating oil futures. However, week on week, RBOB was 2.80 cents/gal higher.

NATURAL GAS: Mar $6.135/MMBtu, up 7.1 cents
The front-month contract closed the week trading in positive territory for the third time in four sessions, boosted by a positive demand outlook for late February and early March. The contract has now settled above the $6.00/MMBtu mark for three consecutive sessions for the first time since December 2008.

ETHANE: higher at 41.50 cents/gal
Ethane spot prices were stronger, tracking higher natural gas futures.

AROMATICS: mixed xylene down at $3.75/gal, toluene up at $3.80-3.90/gal
Prompt mixed xylene (MX) was heard to have traded at $3.75/gal FOB (free on board) on Friday, sources said. The deal was below the previous day’s range of $3.79-3.81/gal FOB, as demand eased. Prompt US toluene spot prices were discussed at $3.80-3.90/gal FOB, sources said. The range was up from $3.75-3.85/gal FOB earlier in the week.

OLEFINS: ethylene wider at 50.25-52.50 cents/lb, RGP bid flat at 59.5 cents/lb
US February ethylene bid/offer levels moved to 50.25-52.50 cents/lb compared with the previous reported trade at 52.50 cents/lb a day ago. US February refinery-grade propylene (RGP) bid levels were unchanged at 59.5 cents/lb against no fresh offers.

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By Staff Reporter