Initial US xylenes contract down 20 cents to $2.34/gal

01 September 2009 22:20  [Source: ICIS news]

HOUSTON (ICIS news)--A US mixed xylenes (MX) contract was settled at $2.34/gal ($712/tonne, €498/tonne) for September, a 20-cent drop from the previous month, market sources said on Tuesday.

The benchmark, set on a free on board (FOB) US Gulf basis, fell from $2.54/gal in August going back near the July contract of $2.36/gal.

The prices apply to D5211-grade MX.

The drop in upstream gasoline prices as the US summer driving season finished had recently sent spot MX prices in the US Gulf down to a range of $2.30-2.40/gal, according to global chemical market intelligence service ICIS pricing.

Major US contract players include BP, Citgo, ExxonMobil, Flint Hills Resources, Total and Valero.

($1 = €0.70)

For more on mixed xylenes (MX) visit ICIS chemical intelligence
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By: Ryan Hickman
+1 713 525 2653

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