US toluene prices could end year 15 cts above 2004

21 December 2005 21:05  [Source: ICIS news]

HOUSTON (ICIS news)--January nitration grade toluene spot prices in the US Gulf were poised to end 2005 more than 15 cents/pound above spot levels recorded at the end of 2004, traders said on Wednesday.

January n-grade spot bids were at $2.02 (Euro1.70)/gallon free on board (FOB) Houston-Texas City (HTC) on Wednesday morning. Spot business was done on Tuesday at $2.025/gallon FOB HTC, about 15 cents/gallon above a January bid/offer of $1.83-1.88/gallon FOB HTC recorded on 23 December, 2004.

Market sources said the 15 cents/gallon spread between toluene barge numbers was not as significant when compared to the yearly jump in West Texas Intermediate (WTI) crude oil prices.

The spot month WTI price was assessed at $57.75/bbl, up $13.59/bbl, or 30.7%, from the 23 December 2004 settlement of $44.16/bbl.

By: Aaron Goetze
+1 713 525 2653

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