UpdateUS Sep benzene contract at $4.46/gal

02 September 2008 21:34  [Source: ICIS news]

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HOUSTON (ICIS news)--The US September benzene contract was settled up a penny at $4.46/gal  ($1,338/tonne, €910/tonne), aromatics trade sources said on Tuesday.

The 1-cent FOB (free on board) increase was in line with the initial settlement heard on Friday.

Trade participants said the September benzene contract set a record high compared with the August $4.45/gal contract.

The September benzene increase was said to be based on volatile energy prices, an increase in demand and spot prices.

Major US benzene producers include LyondellBasell, ExxonMobil, and Chevron Phillips.

($1 = €0.68)

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By: Brian Balboa
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