Nov US benzene settlement confirmed at $1.60/gal

03 November 2008 18:31  [Source: ICIS news]

HOUSTON (ICIS news)--US participants involved with benzene contract negotiations confirmed on Monday that November fully settled down by 62% to $1.60/gal ($480/tonne, €374/tonne).

Falling $2.64 from October, the November FOB (free on board) USG (US Gulf) contract price marked the largest recorded month-on-month drop and reached a level not seen since December 2003, according to global chemical market intelligence service ICIS pricing.

Spot barges for November and December delivery were steady around $1.55-1.59/gal DDP (delivered, duty paid) HTC (Houston-Texas City), amid weak demand and lower crude oil values.

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

($1 = €0.78)

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For more on benzene visit ICIS chemicals intelligence

By: Landon Feller
+1 713 525 2653

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