Texas (USA): In the US market, Toluene prices have continued to decline due to a drop in overall domestic demand. The value of Toluene closely correlates with demand from downstream and derivative manufacturing sectors. The naphtha prices in the US market remained on the lower side of the price range proportionally impacting the production cost, creating a balance between the demand and supply of Toluene in the domestic market. These factors combined to lower Toluene prices in the US market, which settled at USD xxx per MT, FOB Texas, in the third week of June.
According to The American Petroleum Institute (API), crude oil inventories in the United States rose by x.xxx million barrels. In the previous week, API reported a decrease of x.xxx million barrels in crude inventories.
Looking ahead to xxxx, the US industrial market is expected to stabilize with net absorption...
