The IEA sharply lowered its 2026 global oil demand outlook, citing the escalating Mideast conflict and elevated energy prices. The agency now projects a significantly steeper year-on-year decline in consumption than previously forecast, warning that market tightening and demand destruction are accelerating.
Trinseo has restarted the sale of its 50% stake in the Americas Styrenics joint venture with Chevron Phillips Chemical, which produces styrene and polystyrene, following Trinseo's bankruptcy declaration earlier this year. The ownership uncertainty at one of the key styrene and polystyrene production platforms introduces supply risk for those commodity chemicals, likely supporting firmer pricing as market participants assess potential output disruptions.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Benzene | China | FOB | USD 1,122.63/MT | July 2026 |
| Benzene | USA | CIF | USD 1,310.00/MT | July 2026 |
| Benzene | Germany | CIF | USD 1,257.00/MT | July 2026 |
| Benzene | India | CIF | USD 1,230.00/MT | July 2026 |
| Benzene | Japan | CIF | USD 1,156.00/MT | July 2026 |
| Benzene | China | FOB | USD 1,084.04/MT | June 2026 |
| Benzene | USA | CIF | USD 1,239.04/MT | June 2026 |
| Benzene | Germany | CIF | USD 1,205.04/MT | June 2026 |
| Benzene | India | CIF | USD 1,172.04/MT | June 2026 |
| Benzene | Japan | CIF | USD 1,117.04/MT | June 2026 |
Stay updated with the latest Benzene prices, historical data, and tailored regional analysis
Asia
In China, Benzene prices declined from ~USD 1,238/MT in April to ~USD 1,084/MT in June, showing a ~12% decrease. India recorded a decline from ~USD 1,288/MT in April to ~USD 1,172/MT in June, a ~9% decrease. Asian markets initially faced supply-security concerns as geopolitical disruptions tightened feedstock availability and increased procurement uncertainty. South Korea introduced emergency controls on benzene and other petrochemical feedstocks, restricting companies from holding inventories more than 80% above corresponding previous-year levels. The market subsequently weakened as geopolitical tensions eased, Strait of Hormuz flows reopened, and crude and naphtha costs declined. High downstream inventories and cautious replenishment further reduced buying pressure. In China, weaker domestic consumption and improving availability contributed to the June correction, while Indian demand remained exposed to softer regional petrochemical operating conditions.
Europe
In Germany, Benzene prices averaged ~USD 1,364/MT in April before declining ~12% to ~USD 1,205/MT in June. European availability remained tight during the earlier part of Q2’26 as energy and feedstock disruptions increased replacement costs and encouraged cross-regional trade. At least 14,500 tonnes of benzene was shipped from Antwerp to the US on April 30, while another 18,000-tonne parcel was reportedly arranged from Rotterdam for late May/early June. These flows highlighted strong cross-regional supply movement and efforts to rebalance availability. As energy-market pressures eased, improved supply and weaker downstream buying shifted the market toward correction.
North America
In the USA, Benzene prices declined from ~USD 1,325/MT in April to ~USD 1,239/MT in June, a ~7% decrease. The market experienced upstream supply and energy disruptions but benefited from comparatively better domestic crude availability. Strategic Petroleum Reserve releases and Venezuelan imports helped buffer US crude supply, limiting some feedstock pressure relative to Europe and Asia. Transatlantic inflows also supported regional availability, while cautious petrochemical procurement limited demand-side support. The combination of improved supply conditions and weaker downstream buying contributed to the Q2 correction.
Analyst Insight
According to Procurement Resource, benzene markets are likely to remain sensitive to crude and naphtha availability, geopolitical developments, inventory levels, and downstream petrochemical demand.
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Asia
In China, benzene prices increased from 5.74 CNY/kg (Spot FD) in January to 8.42 CNY/kg in March, reflecting a quarter-on-quarter rise of around 27%. The market was stable in the beginning of the quarter although there were some supply disruptions amid the celebrations of the spring festival. However, benzene prices surged by about 31% from February to March alone as the import constraints intensified due to disruptions in the Strait of Hormuz, impacting regional trade flows and availability.
Sinopec, a major player in the region, raised benchmark prices by over RMB 2,700/MT, reinforcing bullish sentiment. In India, benzene prices rose from INR 58.98/kg (FOB) in January to INR 64.40/kg in March, with a 10.2% increase from February to March. The upward trend was largely attributed to higher import parity prices driven by global crude escalation and constrained international supply. Domestic demand remained steady, particularly from downstream sectors, which supported price stability despite global volatility.
Europe
The benzene market in the European region witnessed a similar upward pressure during the first quarter of 2026, primarily driven by elevated feedstock costs and tightening global supply. Reduced export availability from Asia, particularly amid maintenance shutdowns and lower operating rates, constrained inflows into the region. Additionally, disruptions in global shipping routes linked to geopolitical tensions increased freight uncertainties and delayed cargo movements, affecting trade flows into Europe. Market participants remained cautious, and demand from downstream derivatives remained relatively stable, preventing any corrections.
North America
In North America, the benzene price curve moved upwards following its other global counterparts. In the start of the year, the prices were stable with a slight upward pressure as the downstream sector reopened after the New Year Holidays. However, in the first week of march the prices soared notably amid the Iran war disruptions. Supply chains were indirectly affected by logistical uncertainties stemming from restricted maritime flows, particularly as global arbitrage opportunities shifted.
In appearance, Benzene is a clear, colourless, highly flammable and volatile, liquid aromatic hydrocarbon with a gasoline-like odour Benzene is found in crude oils and as a by-product of oil-refining methods. In industries, benzene is utilised as a solvent, as a chemical intermediate, and is used in the synthesis of numerous chemicals.
C6H6
Plastics, Resins, Synthetic fibres, Rubber lubricants, Dyes, Detergents, Drugs and pesticides
71-43-2, Benzol, Cyclohexatriene, Benzole
Shell Chemicals, Reliance Industries Limited, Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical), China Petroleum & Chemical Corporation (Sinopec Corp.), SynQuest Laboratories (Central Glass Co., LTD.)
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
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Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
While producing Benzene using the reformation process, hydrocarbons are boiled with hydrogen gas at very high temperature (somewhere between 60 to 200-degree celsius), which forms hydrocarbon rings and aromatic compounds. The reaction takes place in the presence of a catalyst. These aromatic products are then separated by extraction with the help of solvents, thus, obtaining the desired products.
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