US spot toluene, MX continue downtrend amid weaker blend values.

Petrotahlil-Bids and offers for US spot toluene and mixed xylenes (MX) fell throughout the week alongside a plunge in crude and gasoline prices on Thursday.

Despite the anticipated increase in gasoline demand ahead of the start of the summer driving season during the Memorial Day holiday weekend, an increase in gasoline inventories and weak chemical added to the downward pressure.

The blend values for octane-enhancing aromatics such as toluene and MX are falling as supply lengthens and gasoline blenders opt for more cost-effective blendstocks such as cumene for the summer driving season, driving down prices.

Moreover, producers continue to reduce operating rates for on-purpose benzene and paraxylene (PX) units because of squeezed margins, reducing chemical demand and contributing to the downside.

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