Last week, the supply of petroleum benzene increased, but at the same time, the production of hydrogenated benzene decreased, so the overall supply is still relatively stable. Affected by the Russian-Ukrainian war, crude oil prices gradually rose, which led to a rebound in crude oil futures prices, which is good news for benzene prices. However, some downstream benzene plants stopped production, and the demand situation was not good, which suppressed the increase in benzene prices, resulting in the price fluctuation space of benzene being limited last week.
This week, the production of petroleum benzene continued to increase, the inventory at the port increased, and the support of crude oil for benzene was not so strong. Therefore, it is expected that the market price of benzene will be slightly consolidated. It is necessary to pay more attention to the start-up of factories that use and produce benzene, and whether there will be any changes in the war situation in the Middle East.
