Benzene Settles Down
June US benzene contract price settles down 59 cents at $2.25/gal: sources
Houston (Platts)–1Jun2015/300 pm EDT/1900 GMT
The June US benzene contract price settled at $2.25/gal ($627.75/mt), down 59 cents/gal ($176.41/mt) from May, sources said Monday.
The decline marked the first drop in contracts since February, when contracts settled at $2.01/gal, Platts data showed.
The contract was expected to decline due to lower spot pricing throughout May as well as ample supply in the market during most of May, sources said.
The settlement was more than expected as many market participants expected contracts to decline into the low $2.30s/gal.
US spot benzene was last assessed Friday at $2.59/gal FOB US Gulf Coast.
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