Hamburg (Germany): Toluene prices in the European market skidded in the first week of January, experiencing a decline due to subdued demand and supply chain constraints. The final prices of Toluene are influenced by factors such as production costs and demand projections from end-use manufacturing units in the domestic market. Additionally, benzene prices in the US market continued to decrease as crude oil and naphtha prices remained stable, prompting retailers to reduce prices for Toluene and its derivatives.
Aramco has reduced February prices for European buyers by USD x.xx to USD x per barrel. Despite Saudi crude being relatively more expensive than other regional options, a source from a North Asian refinery expressed satisfaction with the lowered prices, making it more affordable. The price cut, the most significant in xx months, aligns with expectations, reflecting a softer Asian crude market. A Bloomberg survey of refiners...
