Benzene contract prices drop in US for seventh month in a row

摘要

February benzene contracts have been settled in the United States at $2.01/gal, down 9.0% from January for a seventh consecutive monthly decline. Given ample supply and modest demand, the outlook is bearish, but crude oil price movements can trump fundamentals, says IHS Chemical. Benzene contract prices in the United States peaked in July 2014 at $5.28/gal. They have fallen 62% since then, dragged down by plummeting crude oil prices and weak demand. "Demand is slightly better but still very sluggish," says Peter Feng, senior director/aro-matics at IHS Chemical.