US October benzene contract drops by 68 cents/gal

30 September 2011 16:05  [Source: ICIS news]

LONDON (ICIS)--US October benzene contracts declined by 68 cents/gal ($204/tonne, €151/tonne) because of weaker spot prices, which have been impacted by falling crude oil values and uncertainty over the global economy, trade sources said early on Friday.

The settlement, which was heard late on Thursday and is pending confirmation, brought October benzene contracts down to $3.33/gal FOB (free on board), and was in line with market expectations.

It also represented the second consecutive month that the benzene contract declined.

($1 = €0.74)

For more on benzene visit ICIS chemical intelligence

By: Brian Balboa
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