28 September 2007 20:41 [Source: ICIS news]
HOUSTON (ICIS news)--The US October benzene contract settled at $3.49/gal FOB (free on board), up 13 cents from September levels of $3.36/gal FOB, market participants said on Friday.
The increase was based mostly on higher energy prices, especially record crude oil prices, which rose above $80/bbl during September.
Despite the increase, the October settlement was lower than reported nominations heard at $3.80/gal FOB earlier in the week.
The settlement also represents the first increase in benzene contracts since May.Major benzene producers in the US include ExxonMobil, Lyondell Chemical and Chevron Phillips Chemical.
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