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UPDATE: US June benzene contract price drops 8 cpg; Asia, Europe lower
HOUSTON, May 31, 2016 (PCW) -– The US June benzene contract price has settled at 200 cpg ($598/mt), 8 cpg lower than the May contract settlement of 208 cpg ($622/mt).
US spot prices have been trending lower the entire month, declining 11 cpg in May on weaker global values due to softer downstream demand.
In contrast, WTI crude oil rose more than $3/bbl during that time frame, while Brent rose $1.13/bbl.
On Tuesday as well JX Nippon Oil & Energy settled the June Asian Contract Price at $615/mt (206 cpg), $50/mt lower than the May CP.
By mid-Tuesday, the European June contract price was reported settled at €572/mt ($637/mt or 213 cpg) CIF ARA for a €27 decline from the May settlement. -- Samantha Hartke