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.
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