The Benzene market in the North American region continued to remain static on the positive side of the market dynamics. Furthermore, due to increasing demand from end-use manufacturing units such as styrene, phenol, and other aromatics, the proportional impacts could be seen in the prices of Benzene in the regional market. The correlation between crude oil prices and Benzene prices is notable, as naphtha production, essential for Benzene, is directly influenced by fluctuations in crude oil prices in the domestic market. The concluding price of Benzene was observed at USD xxxx per MT, FOB Louisiana in the US market on the week ending May xxth.
The steam cracking process, which was pivotal in producing naphtha, played a crucial role in determining Benzene prices, ensuring that any rise in crude oil prices positively affected Benzene prices. Furthermore, the growing demand for Benzene...
