September started this morning around 290-295 cents/gal ($867-882/mt) DDP USG with FOB parcels at a roughly 2 cent premium. By around 11 am Houston time (1600 GMT), the spread narrowed with buyers inching up to 292 cents/gal and offers at 294 cents/gal for September. October was bid a penny lower at 291 cents/gal while the offer was at 294 cents/gal.
At 11:17 am Houston time (1617 GMT), October was trading at $73.69/barrel, down $1.33 from the previous day.
Looking ahead, one trader believed there would be healthy October benzene demand in the US.
"I think we'll see a little contango to October maybe into November because of low imports, he said, "But eventually they will find their way here if the (Asian suppliers) keep running harder. At this point I think we will hold prices, maybe a little upside in anticipation of tighter balance."
