In this pre-recorded webinar ICIS Consultant, Stephanie Kirby will discuss the multiple factors impacting the benzene price and the benefits of forecast reporting.
It is no secret that the recent US crude oil market has made a large impact on the global economy. Crude oil is the primary feedstock for a variety of aromatics products and benzene is considered a byproduct of crude. Therefore, one could assume that benzene prices track crude oil prices. However, there are multiple factors that affect the benzene price such as derivative demand and trade activity.
Despite the oversupply of crude oil in the US, the US is currently a net importer of benzene and a net exporter of styrene, the main consumer of benzene. Because of this, there is a lot of uncertainty when it comes to forecasting the benzene price.