Jeddah (Saudi Arabia): Benzene prices in the Gulf market continued to rise due to supply chain challenges and increased crude oil and naphtha prices. Saudi Arabia is expected to maintain its crude oil prices for Asian customers in April, following a slight increase in Middle East benchmark prices. Despite expectations of OPEC+ extending production cuts, South Korea and Japan maintain strong crude supply security. Benzene prices in the Saudi Arabian market increased in late February due to tight supply and rising demand from petrochemical producers. Concerns about excess capacity in the US and China may further squeeze margins in the industry. Styrene, phenol, acetone, and other aromatics also continued to support Benzene price dynamics as demand outlooks increased from automotive, rubber, and other Benzene derivatives sectors. The Benzene price in the domestic market was observed at USD xxxx per MT, CFR Al-Jubail, with a x.xx increase in the...
