The crude oil market continues to experience wide-range fluctuations. The overall trend of toluene and xylene prices in the East China region was first a decline followed by an increase. The current price range is relatively low. However, the weak overall demand coupled with the increasing supply has led to a bearish market sentiment. Especially, Shandong refineries are facing some inventory pressure, so each refinery adjusts its prices based on its inventory situation. There is some arbitrage opportunity in certain regions, and low-price transactions have improved somewhat.
Many uncertain factors exist in external news, especially the situation in the Middle East, which has led to a stalemate in the short-term market. The market is awaiting fresh news for guidance and requires close attention to the impact of supply and demand. In this context, cautious operation is recommended.
