US July benzene contract expected to decline on ample supply

27 June 2013 20:26  [Source: ICIS news]

HOUSTON (ICIS)--The upcoming US July benzene contract is expected to settle at a decline of 27-32 cents/gal, following the trend seen in barge spot prices, according to trade participants on Thursday.

The recent decline in spot prices has been mostly attributed to ample supply availability.

Current benzene spot prices are at $3.97-4.13/gal ($1,188-1,236/tonne, €915-952/tonne) FOB (free on board), down from $4.32-4.35/gal FOB at the start of the month.

The contract is expected to settle on Friday. The US benzene contract typically settles on the final day of the month.

($1 = €0.77)

By: Brian Balboa
+1 713 525 2653

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