Houston — US August benzene contract prices were heard settled this week at 288 cents/gal, marking a 4-cent increase from July’s settlement of 284 cents/gal, sources said Tuesday.
Prompt spot benzene rose as the month ended, closing Monday at 295 cents/gal DDP USG. The spot price averaged 286.66 cents/gal in July, according to S&P Global Platts data.
The higher prices were welcomed by some in the market after pricing was stagnant in the mid-280s cents/gal range for the latter half of June and much of July. Prices rose late last week and trades were last seen at 294 cents and 295 cents/gal DDP USG for August and at 296 cents/gal for September.USA August benzene contract settles 288 cents/gal
Sources said support from downstream styrene was limited, but benzene prices saw support from steady increases in crude pricing. September WTI crude futures breached the $70/b mark Monday, closing at $70.13/b.USA August benzene contract settles 288 cents/gal
–Kevin Allen, kevin.allen@spglobal.com
–Edited by Richard Rubin, richard.rubin@spglobal.com
Related Topics