US July benzene down 35 cents/gal on lower spot, ample supply

28 June 2013 16:32  [Source: ICIS news]

US July benzene down 35 cents/gal on lower spot, ample supplyHOUSTON (ICIS)--The US July benzene contract settled at $4.07/gal ($1,218/tonne, €938/tonne) for a decline of 35 cents/gal on Friday, following the recent decline in barge spot prices, trade sources said.

The decline was in line with market expectations this week, as spot prices have fallen to yearly lows on the back of ample supply availability in the US.

Trade participants have said the US benzene market has been long on supply since January.

Current benzene spot prices are at $4.05-4.15/gal FOB (free on board), down from $4.32-4.35/gal FOB at the start of the month.

($1 = €0.77)

By: Brian Balboa
+1 713 525 2653

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