EVENING SNAPSHOT - Americas Markets Summary

20 March 2014 22:00 Source:ICIS News

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

CRUDE: Apr WTI: $99.43/bbl, down 94 cents; May Brent: $106.45/bbl, up 60 cents
NYMEX WTI crude futures fell on length liquidation as the April contract expired at the end of the session. Rising crude oil inventories revealed by the US Energy Information Administration (EIA) stats earlier in the week and a stronger dollar encouraged the selling.

RBOB: Apr $2.8955/gal, up 2.67 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures fluctuated throughout the day, but settled higher on support from heating oil and an encouraging jobs report.

NATURAL GAS: Apr $4.369/MMBtu, down 11.5 cents
The front month contract on the NYMEX natural gas futures market closed down nearly 3% on bearish sentiment related to milder near term weather forecasts and the release of the EIA’s latest weekly gas storage report showing a lower than expected withdrawal from US inventories over the week ended 14 March.

ETHANE: lower at 28.50 cents/gal
Ethane spot prices were lower in a quiet market on Thursday.

AROMATICS: toluene flat at $3.55-3.68/gal, mixed xylenes flat at $3.60-3.65/gal
Activity was thin in the US aromatics market for toluene and mixed xylenes (MX) during the day, sources said. There were no fresh trades heard during the day. As a result, toluene and mixed xylene (MX) spot prices held steady from the previous session.

OLEFINS: ethylene done higher at 51.75 cents/lb, PGP lower at 66.0-68.5 cents/lb
US March ethylene traded higher on Thursday at 51.75 cents/lb compared with a trade the previous day at 51.50 cents/lb. US March PGP bid/offer levels were heard at 66.00-68.50 cents/lb, lower than a trade the previous day at 68.75 cents/lb.

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By Staff Reporter