Spot benzene prices on the US Gulf Coast rose by 23 cents per gallon across all delivery periods and trade terms on September 14, following a modest uptick in upstream energy markets.
Despite expectations of import cargoes arriving in October, market participants widely agreed that additional benzene supply is unlikely to alleviate price pressures, given the sustained strength of the gasoline market and continued demand for aromatics from gasoline blending pools.
The September benzene assessment was quoted at 517 cents/gallon DDP, up 23 cents/gallon on the day. The October cargo assessment stood at 506 cents/gallon DDP, also up 23 cents; while the November cargo assessment was quoted at 495 cents/gallon DDP, rising 23 cents on the day.
On an FOB basis, the September benzene assessment was quoted at 519 cents/gallon, up 23 cents/gallon on the day. The October cargo assessment was priced at 508 cents/gallon FOB, up 23 cents; and the November cargo assessment was quoted at 497 cents/gallon FOB, rising 23 cents on the day.
The benzene-to-crude ratio was calculated at 2.14. Spot ethylbenzene (EB) assessments for September were quoted at 490 cents/gallon DDP, up 1 cent; while the October EB assessment was priced at 472 cents/gallon DDP, up 2 cents on the day.
Comments
0