Some petrochemicals prices in Asia increased with higher crude prices on account of re-imposition of US sanctions on Iran next month. Crude prices have been rising on concerns over the potential loss of supply from Iran, when the US sanctions hit on 4 November. Presently in China due to week long holiday demand sentiments have been firm. As per source, in the toluene market, prices have remained firm despite upstream gains and a narrower naphtha-toluene spread in the paper market, due to firm trade from Chinese buyers. Petrochemicals feedstock naphtha prices escalated and benzene prices also increased but benzene’s spike has not affected downstream sectors such as styrene monomer and phenol
