25 May 2012 18:20 [Source: ICIS news]
HOUSTON (ICIS)--The US June methanol contract appeared set to roll over on Friday as Methanex kept its monthly posting at 138 cents/gal (€0.27/litre), the same as its May number.
Southern Chemical (SCC) has not yet issued its posting for June. In May, SCC posted 133 cents/gal. Spot prices have been stagnant for the past week, at 116-117 cents/gal, down by about 3% from roughly 120 cents/gal one month ago.
Methanol tracks crude prices over the long haul, which have slipped a little this week.
NYMEX front-month futures for West Texas Intermediate traded below $90.80/bbl in mid-morning trading, down by 0.7% from last Friday’s close of $91.48/bbl.
($1 = €0.80)
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