SunSirs: The Domestic Market Dynamics of Toluene on June 14, 2023
June 15 2023 13:36:10 SunSirs (John )
Fluctuation trend:
Analysis and comments:
In terms of crude oil, there were disagreements within OPEC+ regarding the need for further production cuts. In addition to Saudi Arabia's announcement of an additional 1 million barrels per day reduction in July, which was beneficial for oil prices, Russia, Iran, Brazil and other countries had higher exports, which weakened the effectiveness of OPEC's production cuts; During the peak overseas travel season in June, gasoline demand was boosted, while crude oil demand steadily increased and oil prices were relatively stronger; The risk of economic recession in Europe and America was relatively high. Under the influence of macroeconomic sentiment, the focus of bulk product prices continued to shift downwards, product profits were declining, and industrial profits were bleak. The mentality of toluene industry was cautious, and toluene was sorted weaker.
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