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Global July benzene contract prices settles with increases; US split again
HOUSTON, June 30, 2016 (PCW) -– Global July benzene contract prices rose month-on-month on rising Brent crude and spot price strength due to increased downstream demand.
The US July benzene contract price saw another split settlement of 212 cpg ($634/mt) and 216 cpg ($646/mt), 12-16 cpg higher than the June contract settlement. The last split settlement was seen in April.
In Asia, Japan’s JX Nippon Oil & Energy settled the July Asia Contract Price at $620/mt (207 cpg), up $5/mt from the June CP.
The European July contract settled at €585/mt ($636/mt or 216 cpg) CIF ARA, up €13/mt from June.
Brent rose 92 cents/bbl (or an equivalent 2.2 cpg) during June. Spot benzene was up globally: Asia rose about $14/mt (4.7 cpg), Europe was up $23/mt (7.7 cpg) CIF ARA and US climbed $88/mt (28 cpg) DDP HTC during the same time frame. -- Samantha Hartke