US November benzene contract down 27 cents/gal on weak fundamentals

31 October 2013 22:46  [Source: ICIS news]

HOUSTON (ICIS)--The US November benzene contract settled late Thursday at $4.10/gal ($1,227/tonne, €896/tonne) on the back of weaker spot prices, according to trade sources.

The settlement was down by 27 cents/gal from the October contract price of $4.37/gal FOB (free on board).

The November decline was also in line with market expectations in late October, after benzene spot prices established at 16-month low on downward pressure from weaker markets overseas, lacklustre NYMEX energy futures and readily available supply.

The November benzene contract settlement also represented the second consecutive monthly decline.

($1 = €0.73)

By: Brian Balboa
+1 713 525 2653

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