At least one US seller of hexane Wednesday was prepared to soon raise his September price by 5 cents/lb following a similar move earlier this week by major producer Citgo.
The seller has not yet made an official announcement for his September price, but said it was prompted by the Citgo move and higher crude and refined product prices.
Citgo Monday told customers it will hike hexane prices by 5 cents/lb, effective September 1.
Delivered hexane prices have been talked this week notionally at 56.50-57.50 cents/lb and sources said the price would likely be in the low-60s cents/lb range in September.
Crude prices have gained just under $6/barrel since the beginning of August and were up $10/b since the beginning of July. Platts WTI assessment closed Tuesday at $93.37/b, while NYMEX September crude futures were up 99 cents to $94.42/b at 12:05 CDT (1705 GMT).
Additionally, gasoline prices were on the rise, with unleaded 87 gasoline prices up 14 cents/gal since August and up roughly 40 cents/gal since the beginning of July.
