Corrected: EVENING SNAPSHOT - Americas Markets Summary

17 April 2014 23:00 Source:ICIS News

Correction: In the ICIS story headlined “EVENING SNAPSHOT - Americas Markets Summary” dated 17 April 2014, the settlement for RBOB is incorrect. Please read in the third paragraph … RBOB: May $3.0547/gal, up 1.42 cents/gal … instead of … RBOB: May $3.0507/gal, up 1.02 cents/gal … A corrected story follows.

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

CRUDE: May WTI: $104.30/bbl, up 54 cents; May Brent: $109.53/bbl, down 7 cents
NYMEX WTI crude futures rose on pre-long weekend buying despite the call by the various parties involved to end the violence in Ukraine and ease tensions. Upbeat unemployment benefits data in the US also provided underlying support. Futures exchanges will be closed on Friday.

RBOB: May $3.0547/gal, up 1.42 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled higher as unemployment benefits claims rose by lower-than-expected rates and on stronger crude futures trading.

NATURAL GAS: May: $4.741/MMBtu, up 21.1 cents
The front month contract on the NYMEX natural gas futures market closed Thursday trading up by nearly 5%, soaring to the biggest daily rise since mid-February on the back of a natural gas storage report from the Energy Information Administration (EIA), which showed a lower than previously expected injection into US inventories over the week ended 11 April. 

ETHANE: higher at 30.13 cents/gal
Ethane spot prices increased on the rally in natural gas futures.

AROMATICS: mixed xylenes tighter at $3.52-3.57/gal
Prompt US mixed xylenes (MX) spot prices were discussed at $3.52-3.57/gal FOB (free on board) on Thursday, sources said. The range was tighter compared with $3.51-3.58/gal FOB the previous session.

OLEFINS: ethylene done higher at 53.75 cents/lb, PGP wider at 67-71 cents/lb
US April ethylene prices climbed to 53.75 cents/lb on Thursday, based on the most recent reported trade, as a possible cracker shutdown hit the market. US April polymer-grade propylene (PGP) bid/offer levels were heard at 67.000-71.000 cents/lb, wider than a trade the previous day at 68.375 cents/lb.

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By Staff Reporter