Benzene Prices End Year on High Note Amid Supply Tightness

Supply-Demand Divergence

While upstream supply remains constrained due to lower refinery operating rates for reformate, downstream demand from the styrene sector remains lackluster. This divergence has created a unique dynamic where prices are supported by scarcity rather than consumption growth.

2026 Arbitrage Outlook

Traders expect the transatlantic arbitrage to remain a key feature in early 2026. With European production costs still elevated due to energy inputs, US exports are likely to continue flowing eastward, keeping a floor under domestic Gulf Coast pricing.