Louisiana (US): Benzene prices in the US market continued to showcase slight continuous momentum from the previous week, following several notable increases. Recent weeks have seen significant price hikes driven by higher demand from industries using styrene, phenol, and other solvents, along with increasing Benzene production costs. The increased demand for aromatics and styrene has impacted Benzene prices, prompting manufacturers to keep prices elevated to manage supply and demand dynamics and offset production expenses. Benzene was quoted at USD xxxx per MT, FOB Louisiana, for the week ending March xxnd, xxxx.
Oil prices dropped, influenced by a stronger dollar and unexpected increases in U.S. crude and gasoline inventories required primarily for Benzene production. Crude oil futures were down following a report showing a notable rise in U.S. crude oil stocks. The market is awaiting official data from the US EIA (Energy...
