HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.
CRUDE: Jun WTI: $100.60/bbl, down $1.34; Jun Brent: $109.58/bbl, down 75 cents
NYMEX WTI crude futures experienced a round of pre-weekend profit taking, tracking a sell-off in the stock market in response to the release of disappointing corporate earnings. Having temporarily factored in the Ukraine crisis, investors also took profits despite the rhetoric and lack of progress in the negotiations between Russia and Western nations.
RBOB: May $3.0751/gal, down 1.44 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures settled lower, moving further away from the $3.10/gal mark as crude futures weakened.
NATURAL GAS: May $4.647/MMBtu, down 5.8 cents
The front month contract on the NYMEX natural gas futures market closed the week down for the fourth time in five sessions, closing at a six session low as robust production levels and milder weather forecasts boosted downwards pricing sentiment.
ETHANE: lower at 29.63 cents/gal
Ethane spot prices weakened slightly on lower natural gas futures.
AROMATICS: toluene flat at $3.50-3.60/gal, mixed xylenes flat at $3.52-3.60/gal
Activity was thin during the day for US toluene and mixed xylenes (MX) markets. There were no fresh trades, and markets were flat from the previous session.
OLEFINS: ethylene done higher at 57 cents/lb, RGP bid/offer flat at 59.75-60.50 cents/lb
US April ethylene traded at 57.00 cents/lb on Friday, up from the previous trade reported at 56.25 cents/lb as prices continued to climb. US April refinery-grade propylene (RGP) bid/offer levels were flat at 59.75-60.50 cents/lb on Friday as market activity was limited.
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