USGC Benzene April Contract Settles at 409cts/gal, Volume Rises to a Near Two-Year High

The U.S. Gulf Coast April benzene contract price settled at 409cts/gal ($1224/mt), up 96cts/gal ($287/mt) from March’s settlement and the largest increase since October 2023, according to OPIS data.

A total of 1.31 million bbl traded during the April contract window, the highest volume since February 2024 (1.325 million bbl) and up 170% above March volumes (485,000 bbl).

Compared with April 2025, when the contract settled at 254cts/gal with 1.185 million bbl traded, the April 2026 contract was up 61% and volumes rose by more than 10.5%.

Spot benzene traded between 392-425cts/gal during the contract window. Trading activity increased in early sessions, supported by increases in energy futures following the U.S. and Israeli attack against Iran in late February.

Some trades were reported Wednesday at 440cts/gal DDP HTC for April delivery and 430cts/gal DDP HTC for May delivery, reflecting early-session strength and a backwardated market structure.

Houston/Texas City remained the primary delivery hub, accounting for 62% of total volume, while Lower Mississippi River accounted for the remaining 38%.

Domestic benzene supply remains adequate, while no imports, except from Canada, were reported in March. Derivative demand is soft as multiple downstream producers are in turnaround cycles.

Reporting by Marlon Vinueza, mvinueza@opisnet.com; Editing by Jeffrey Barber, jbarber@opisnet.com