US June benzene contract prices settled Wednesday at a $2.70-$2.71/gal split, sources said Wednesday.
Contracts saw little volatility as Phillips 66 settled contracts 1 cent higher from May’s mark at $2.70/gal, while ExxonMobil settled contracts 1 cent higher at $2.71/gal, sources said.
Market expectations fell within the upper-$2.60s/gal to $2.70/gal range as June spot pricing was mostly seen within that range during the second half of May.
June market dynamics were expected to consist of some resistance from low imports against slow derivative styrene demand as Asia styrene inventories stay ample.
June DDP pricing was talked in the $2.54-$2.63/gal US Gulf Coast range Wednesday prior to the Platts Market on Close assessment process, a source said.
US spot benzene prompt-month pricing was last assessed Tuesday at $2.63/gal DDP USG.
