May US benzene contract price settles up 24-26 cents to $2.84/gal: sources

Houston (Platts)–30Apr2015/426 pm EDT/2026 GMT

The May US benzene contract price settled at $2.84/gal ($849.16/mt), up 24-26 cents/gal ($71.76-$77.74/mt) from April, sources said Thursday.

This marked the highest settlement since December's settlement at $3.37/gal.

Market participants had anticipated a higher settlement in the $2.84-$2.90/gal range, after spot pricing was well above March's contract price as a result of stronger derivative demand and sentiment that was boosted by expectations of tighter supply. Many participants believe May spot pricing could trend higher as supply tightens because of a lack of Asia imports, sources said. Demand is expected to remain strong, sources added.

US spot benzene was last assessed Wednesday at $2.86/gal FOB US Gulf Coast. May FOB was bid at $2.75/gal and offered at $2.85/gal during the Platts Market on Close.

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