Market analysis

摘要

Crude oil prices remained frm last week owing to the weakening of the US dollar and a sharp drawdown in US crude inventory. Brent closed Thursday at $44.96/bbl, for a weekly average of $44.97, up 1.1%. WTI closed at $42.24, for a weekly average of $42.12, up 1.7%. US toluene prices strengthened faster than upstream markers for the frst time in several weeks; backwardation into September and October steepened. In Europe, negative production margins are driving down supply, but weak demand has prevented the market from tightening. Asian prices declined on the combination of ample supply and sluggish demand.