US June benzene contract expected to drop

29 May 2013 21:08  [Source: ICIS news]

HOUSTON (ICIS)--The upcoming US June benzene contract settlement is expected to settle lower this week, following a lacklustre spot market, according to trade sources on Wednesday.

Trade participants said they expect the June contract to settle in the low $4.40s/gal ($1,317/tonne), following the drop in spot levels this week. 

Spot prices in late May have been mostly below the May benzene contract price of $4.47/gal free on board (FOB). Current benzene spot prices are at $4.37-4.39/gal FOB.

The benzene contract typically settles on the final day of the month.

($1=€0.78)


By: Brian Balboa
+1 713 525 2653



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