US April benzene contract expected lower on drop in spot prices

26 March 2014 20:01  [Source: ICIS news]

HOUSTON (ICIS)--The upcoming US April benzene contract is expected to settle lower following the recent slight decline in spot prices, trade sources said on Wednesday.

The lower benzene contract expectations come alongside lacklustre energy futures and an influx of imports from Asia, which were expected to ease supply concerns during the month.

Prompt benzene spot prices for much of March have been below the March benzene contract price of $4.95/gal FOB (free on board), although spot prices were at $4.80-5.05/gal FOB on Wednesday, on either side of the March benzene contract price.

The April benzene contract is expected to be settled on Friday.

By: Brian Balboa
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