Closing prices in international MTBE markets declined on July 9: The Asian market closed $0.57/tonne lower than the previous trading day, with FOB Singapore prices settling at $791.42–$793.42/tonne. The European market closed down $18.50/tonne, with FOB ARA prices settling at $1,166.99–$1,167.49/tonne. The US market closed down $50.54/tonne, with FOB Gulf Coast prices settling at $1,095.32–$1,095.67/tonne (309.27–309.37 cents/gallon).

Prices across major global MTBE markets fell on July 9, with the US market dropping by $50.54/tonne and the European market by $18.50/tonne. This overall weakness in international markets is expected to exert downward pressure on domestic MTBE spot prices, creating a bearish outlook for the domestic market.

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