Zi Nin Tan

Global benzene prices rose as the upstream energy complex, such as crude oil and naphtha, key feedstocks for benzene production, increased amid the ongoing conflict in the Middle East. Asia Asian benzene prices soared to a 17-month high March 6, driven by a rally in crude oil and mounting feedstock supply concerns stemming from the Middle East war.

Asian aromatics have reacted to crude oil hike amid the geopolitical tensions in the Middle East, with several aromatics products reaching a multi-month high on March 3. At 4:30 PM Singapore time (0830 GMT), the ICE May Brent futures contract was up $8.36/b (11.69%) from the previous close at $79.88/b March 3.

Initial discussions have started for benzene term contracts in the Asian market next year after industry participants returned from a conference which took place over Oct. 14-17, with sentiment in the market sharply more bearish than last year amid worries over a weak macroeconomic outlook, oversupply and capacity rationalizations. The current weak spot market for benzene means that initial talks for 2026 term contracts will start low, a producer said.