US Gulf Coast MTBE reached a five-week high on Thursday, rising 10.5% in the two sessions since the OPEC agreement to reduce production.
US Gulf Coast MTBE was assessed at $1.7790/gal FOB USG, up 6.55 cents day on day and 17 cents -- or 10.5% -- since Wednesday's OPEC announcement to reduce production by 1.2 million b/d to 32.5 million b/d.
The assessment marks the highest since reaching that same level on October 25, S&P Global Platts data showed.
The blendstock has followed the upward movement in crude and gasoline pricing since the OPEC deal.
NYMEX January crude has risen $4.62 in the last two days to $51.06/b, with ICE front-month Brent up $6.19 in that period to $53.94/b.
NYMEX front-month RBOB gasoline has climbed 17.82 cents to $1.5470/gal, the highest since June 10, Platts data showed.
European MTBE also moved to a five-week high of $596/mt FOB ARA, and Asian MTBE climbed to a four-week high of $587/mt FOB Singapore.
