US benzene prices begin '06 with roller coaster ride

04 January 2006 21:18  [Source: ICIS news]

HOUSTON (ICIS news)--US benzene spot prices have fluctuated at least 10 cents/gallon (Euro25/tonne) during the first two official business days of 2006, traders said on Wednesday.

January business was done early on Wednesday at $2.47/gallon delivered duty paid (DDP) Houston-Texas City (HTC), nearly 10 cents/gallon below the bid/offer range heard late Tuesday. After falling below $2.50/gallon to begin the Wednesday session, benzene spot deals were done at $2.50/gallon DDP HTC and $2.5325/gallon DDP HTC. By mid-afternoon, the bid/offer range was indicated at $2.50-2.55/gallon DDP HTC for January barrels.

Benzene spot prices jumped to the upper $2.50s/gallon DDP HTC on Tuesday in response to February New York Mercantile Exchange (Nymex) crude oil futures prices settling $2.10/bbl higher, coupled with traditional re-stocking efforts usually seen early in the first quarter.

Prior to the price surge on Tuesday, spot numbers were assessed at $2.48-2.52/gallon FOB HTC to end 2005.

By: Aaron Goetze
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly