US aromatics boosted on energy, blend values

24 April 2008 23:40  [Source: ICIS news]

HOUSTON (ICIS news)--US prices for xylene, toluene and other aromatic solvents are on the rise following the recent run-up in crude oil and gasoline values, a distributor said on Thursday.

At least two producers and a reseller/trader proposed 3-cent/lb price hikes on aromatic solvents, effective 1 May, following other aromatic price hikes that went into effect in April.

“The increases will succeed because of rising energy prices, and because blend values are rising as demand for summer blends grows,” the distributor said.

The May increase announcements were made amid rocketing crude prices. West Texas Intermediate (WTI) crude oil futures prices on the NYMEX have hovered near $120/bbl for several days before softening slightly to a close of $116.06/bbl on Thursday, 24 April.

US toluene and xylene delivered prices in the midwest and the US Gulf were in the low- to mid-50s cents/lb, according to global chemical market intelligence service ICIS pricing.

US aromatic solvent producers include Citgo, ExxonMobil, Flint Hills Resources, Sunoco and Total.

For more on aromatics visit ICIS chemical intelligence

By: Gene Lockard
1 713 525 2653

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