US producers seek 72 cent increase on January benzene contract

30 December 2010 17:28  [Source: ICIS news]

HOUSTON (ICIS)--US benzene producers nominated an increase of 72.00 cents/gal ($215/tonne) for January contracts following the recent surge in crude oil and benzene spot prices, market participants said on Thursday.

The January nomination of $4.00/gal FOB (free on board) was above the December settlement of $3.28/gal.

Current benzene spot prices were at $3.85-4.00/gal FOB, up from 1 December at $3.33-3.41/gal FOB, which indicates a likely increase.

Benzene contracts are typically settled on the final day of the month.

Major US benzene producers include BP, ExxonMobil, Flint Hills Resources, LyondellBasell, Shell, Sunoco and Total.

For more on benzene visit ICIS chemical intelligence
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By: Brian Balboa
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