- Asia's PX values have historically influenced global
pricing- US players await double-month
settlement





In a complete reversal from the previously
accepted dynamic, US spot paraxylene prices pressured Asia values for the week
June 3. This was due to the unabated demand of gasoline blending components. According to the US Energy Information
Administration, gasoline blending component inventories are continuing to
decline. Stocks were at 201.0 million barrels for the
week ended May 27th, down 6.2% from the previous year, according to EIA data. While
gasoline stocks are decreasing, refineries continue to operate at almost full
capacity. The EIA reported that total motor gasoline
inventories fell 6.4% in the week ended May 27, to 219 million barrels.
However, US refineries are operating at nearly full capacity, and so gasoline
stocks are also decreasing. Sources suggest that...