27 January 2006 19:00 [Source: ICIS news]
HOUSTON (ICIS news)--ExxonMobil nominated US February benzene contract prices at $3/gal (Euro745/tonne) free on board (FOB), up 54 cents/gal or 22% from the January contract settlement of $2.46/gal FOB, market sources said on Friday.
The $3/gal FOB nomination comes after February spot prices have remained at or above $2.80/gal since 17 January.
February spot prices were talked at $2.84-2.88/gal delivered duty paid (DDP) US Gulf early Friday, up 1-2 cents/gal versus prices heard late Thursday.
Market sources said February benzene contract prices could settle up 30-35 cents/gal in line with stronger spot numbers. Contracts were expected settle by 31 January.
In 2005, the February benzene contract settled up 48 cents/gal at $3.12/gal FOB.
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