US  spot  benzene  was  assessed  Friday at a 17-month high of $3.02/gal ($903/mt) FOB US 

Gulf Coast. 

US pricing was last seen at this level on July 21, 2015, S&P Global Platts data showed. 

The market was bullish because of low benzene imports from Asia, usually the largest exporte

r  of  benzene  to  the  US, sources  said. Asia pricing has been around or at a premium to US 

price levels. Strong derivative  styrene demand was also a reason for higher benzene pricing, 

sources said. 

Asia is typically the  largest  exporter of benzene to the usual net-short US, and that arbitrage 

has been mostly closed since the beginning of the fourth quarter of 2016. 

"The  arbitrage  just  hasn't been open and  the US will eventually need that usual flow," a US 

trader source said. 

Meanwhile,  US  styrene,  assessed  Friday  at   56.70 cents/lb ($1,250/mt)  FOB   USG,  has 

remained firm on tight supply and strong Asia demand. 

In  energy  markets, front-month NYMEX  crude settled 27 cents higher this week at $53.99/b, 

putting the benzene-to-crude ratio for  WTI at 2.35. The ICE Brent front-month contract gaine

d 28 cents over the  same  period to settle at $55.21/b, putting the benzene-to-crude ratio for 

Brent  at 2.22. The  benzene-to-RBOB  spread  was 138.60 cents/gal, as front-month NYMEX 

RBOB settled at 163.40 cents/gal. 

US benzene was last seen higher than $3.02/gal FOB USG on December 4, 2014.