Chemical Updates

Asian Benzene: Prices edge down on upstream losses and lower MOC trades / Taiwan’s CPC buys 3,000 mt benzene for September delivery / Japan’s ENEOS Corp settles Aug benzene ACP at $990/mt

Aug 03, 2026

Asian benzene $23/mt lower day over day at $937.67/mt FOB Korea on July 31, following losses upstream and amid lower MOC trades. Crude oil futures declined in Asian mid-morning trading July 31 as ship traffic through two critical Middle Eastern maritime chokepoints increased, easing supply concerns despite escalating tensions between the US and Iran. The front-month ICE Brent futures contract declined $3.89/b on the trading session to $88.20/b, while the naphtha C+F Japan marker lost $37.25/mt over the session to $836.50/mt on July 31. During the Market on Close assessment process, two trades were reported. BP sold a September loading FOB Korea cargo to GS Caltex at $936/mt. Gunvor sold a September loading FOB Korea cargo to GS Caltex at $936/mt. In the FOB Korea market, the backwardation structure between...

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