Refinery Optimization Shift

With retail gasoline prices spiking, refineries are optimizing their reformers for maximum octane yield. This has significantly reduced the net-back of chemical-grade benzene, leading to a supply drought.

Downstream Styrene Demand

Demand from the styrene and phenol sectors remains robust, but buyers are facing record high prices. Inventories at major chemical hubs are at critical lows ahead of the May holiday.