US January benzene contract starts 2011 with 56-cent increase

03 January 2011 16:03  [Source: ICIS news]

HOUSTON (ICIS)--US January benzene contracts were driven up 17% to $3.84/gal FOB (free on board) on stronger energy prices and stronger benzene spot prices, market participants confirmed on Monday.

The 56.00 cent/gal increase was in line with market expectations, but was below producer nominations of $4.00/gal.   

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

($1 = €0.75)

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By: Brian Balboa
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