23 February 2007 00:15 [Source: ICIS news]
HOUSTON (ICIS news)--US benzene spot prices moved up on Thursday after weekly government data showed a larger-than-expected drawdown in domestic gasoline supplies.
March benzene spot prices ended the day at $3.53-3.58/gal FOB (free on board) HTC (?xml:namespace>
The US Energy Information Administration (EIA) said gasoline stockpiles fell by 3.1m bbl to 222.1m bbl for the week ended 16 February from the previous week.
Market traders said a combination of recent problems at Valero’s refineries in
On the NYMEX, the March reformulated blendstock of oxygenate blending (RBOB) contract settled at 175.48 cents/gal, up 5.01 cents from Thursday. April RBOB futures rose 3.81 cents to 180.78 cents/gal.
Market participants also attributed the spike in benzene prices to tight supplies of late.
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