US benzene spikes following Mississippi refinery fire

15 November 2013 22:33 Source:ICIS News

HOUSTON (ICIS)--US benzene spot prices saw its biggest increase of the week on Friday, following news of Chevron’s Pascagoula refinery fire in Mississippi, trade sources said.

November benzene spot prices gradually firmed during the week on the back of short cover positions and stronger prices from Europe, according to trade sources.

The week began with spot prices at $4.05-4.12/gal ($1,212-1,233/tonne, €897-912/tonne) FOB (free on board) but ended on Friday at $4.26-4.43/gal on an FOB and DDP (duty, delivered, paid) basis.

One worker died in the refinery fire at Pascagoula, but Chevron did not comment on the cause of the accident or its possible impact on the refinery's production.

($1 = €0.74)

By Brian Balboa