Americas Markets Summary
HOUSTON (ICIS news)--Here is Thursday’s end of day Americas oil and chemical market summary from ICIS pricing.
CRUDE: WTI: $33.98/bbl, down $1.96; BRENT: $44.65/bbl, up 37 cents
Crude prices rebounded slightly in after-market electronic trading after plunging during the normal floor session. A sell-off in the stock market due to a lack of conviction in the government’s stimulus spending package led to length liquidation on the crude side. The expiring March Brent contract managed to outperform its US counterpart.
NATURAL GAS: $4.485/MMBtu, down 4.7 cents
Natural gas futures prices dropped on increased supply and lacklustre demand forecasts. The Energy Information Administration (EIA) reported a 159-bcf drop in domestic stockpiles last week.
RBOB: $1.2583/gal, down 1.15 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices declined alongside weaker crude oil.
BENZENE: Upward momentum in US aromatics extended to benzene, which was talked at $1.36-1.40/gal, compared with $1.35-1.39/gal earlier in the week.
ETHYLENE: A US ethylene deal for February was done at 25.00 cents/lb on the Williams delivery system on Thursday, down from business at 27.25 cents/lb on Wednesday on the Equistar delivery system.
CRUDE: WTI: $33.98/bbl, down $1.96; BRENT: $44.65/bbl, up 37 cents
Crude prices rebounded slightly in after-market electronic trading after plunging during the normal floor session. A sell-off in the stock market due to a lack of conviction in the government’s stimulus spending package led to length liquidation on the crude side. The expiring March Brent contract managed to outperform its US counterpart.
NATURAL GAS: $4.485/MMBtu, down 4.7 cents
Natural gas futures prices dropped on increased supply and lacklustre demand forecasts. The Energy Information Administration (EIA) reported a 159-bcf drop in domestic stockpiles last week.
RBOB: $1.2583/gal, down 1.15 cents
Reformulated gasoline blendstock for oxygenate blending (RBOB) futures prices declined alongside weaker crude oil.
BENZENE: Upward momentum in US aromatics extended to benzene, which was talked at $1.36-1.40/gal, compared with $1.35-1.39/gal earlier in the week.
ETHYLENE: A US ethylene deal for February was done at 25.00 cents/lb on the Williams delivery system on Thursday, down from business at 27.25 cents/lb on Wednesday on the Equistar delivery system.
PROPYLENE: The refinery-grade propylene (RGP) market remained quiet on Thursday. RGP for February last traded on 6 February at 24.00 cents/lb.
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