US Sept benzene contract up 23 cents/gal on supply expectations

30 August 2013 16:47 Source:ICIS News

HOUSTON (ICIS)--The September benzene contract settled at $4.40/gal ($1,317/tonne, €1,001/tonne) on Friday for a 23 cent/gal gain from August, following the recent run up in spot prices ahead of turnarounds in September and October, sources said.

The September settlement, which was the second consecutive monthly increase, was also in line with market expectations from earlier in the week.

The US benzene market has been well supplied since January of this year, but market sources have said inventory will be tighter starting in September because of the upcoming turnarounds.

($1 = €0.76)

By Brian Balboa