Benzene Contracts Rise, Styrene Slips

Sharply rising global oil prices pushed benzene prices higher through February. That gave producers the leverage they needed to implement March contract increases of 10% in the U.S. Gulf and 9% in Europe, market sources say. Meanwhile, contract styrene prices slipped about 4% in the U.S. and Europe, which has some styrene producers worried about long-term erosion of their margins. Other producers say that near-term supply reductions will keep prices from falling further, however. U.S. Gulf Coast benzene contract prices for March settled at $3.59/gal, fob, an...

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