Market analysis

摘要

Crude oil prices slumped last week amid rising trade tensions between the United States and China as well as the prospect of an increase in OPEC's production quota. Brent fell 3% week-on- week, settling at 73.65/bbl on 21 June. Aromatics broadly followed. US toluene continued to soften, with commercial-grade material just above reformate values. Supply remained on the long side. Spot trade was subdued in Europe, where supply was readily available despite recent turnarounds. Prices also declined in Asia, widening the arbitrage to the United States.