Record energy prices drive aromatics price hikes

30 May 2008 00:01  [Source: ICIS news]

HOUSTON (ICIS news)--Record-high crude oil and gasoline prices are behind the recent series of price hike proposals for US aromatic solvents, a producer said on Thursday.

Most aromatic solvent producers and distributors announced 1 June price hike proposals of 5 cents/lb ($110/tonne or €71/tonne) for toluene and xylene, following two successful aromatic solvent price increases in May.

The rise in crude oil and gasoline prices could - if it continues - produce more price hikes for aromatics this summer, the producer said.

US toluene and xylene prices in the US Gulf were 53.5-59.0 cents/lb DEL (delivered), according to global chemical market intelligence service ICIS pricing.

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

($1 = €0.64)

For more on toluene visit ICIS chemical intelligence
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By: Gene Lockard
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