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Global February benzene contract prices settle lower; US sees split settlement

HOUSTON, January 29, 2016 (PCW) -– Global February benzene contract prices have settled lower.

In Asia, Japan’s JX Nippon Oil & Energy settled its February Asia Contract Price (ACP) at $550/mt (184 cpg) Friday. This was $20/mt lower than its January ACP and its February nomination.

On Friday, the February European benzene contract price settled at €550/mt ($600/mt or 201 cpg) CIF ARA, down €35/mt from its January settlement.

Meanwhile, the US February CP saw a split settlement of $1.84/gal ($550/mt) and $1.85/gal ($553/mt) down 28 cents/gal and 27 cents/gal from January.

Global spot benzene prices were lower in January with the European front-month falling about $52/mt, Asian prices down $49/mt and US spot sliding nearly $75/mt. These were pressured by lower Brent crude, which lost $3.33/bbl during the same time frame. -- Samantha Hartke

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