US methanol spot barge sets new 5-year high at 158 cents/gal

24 October 2013 17:24  [Source: ICIS news]

HOUSTON (ICIS)--US methanol spot barge prices set a new five-year high this week, reaching 158 cents/gal (€0.30/litre), sources said on Thursday.

The previous high of 155 cents/gal was surpassed on Wednesday with purchases at 158 cents/gal. One trader offered 160 cents/gal for November delivery but said he received no takers. Another source had heard of offers at 161 cents/gal.

Spot prices have jumped this week on supply issues and on anticipation of the November contract postings, which should come out before the end of the month.

In late February 2008, US methanol spot barge prices hit 162 cents/gal, coming down from 202 cents/gal in early January that year.

Market sources said earlier this week that they expect postings to jump at least 10 cents/gal higher than the October average of 162 cents/gal.

($1 = €0.73)

By: Lane Kelley
+1 713 525 2653

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