US April benzene nomination heard up 3 cents

26 March 2008 18:33  [Source: ICIS news]

HOUSTON (ICIS news)--A major US benzene producer has nominated an increase of 3 cents/gal ($900/tonne) for April contracts due to oil prices and the upcoming summer driving season, trade sources said on Wednesday.

Market participants said LyondellBasell’s Equistar subsidiary nominated a benzene contract price of $4.00/gal FOB (free on board), up from the March contract settlement of $3.97/gal.

Equistar was unavailable for comment.

Market participants said they also expected to hear an April benzene nomination from ExxonMobil sometime during the week.

The April benzene contract is expected to settle by 31 March.

Major US benzene producers include ExxonMobil, Equistar and BP.

For more on benzene visit ICIS chemical intelligence

By: Brian Balboa
+1 713 525 2653

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