- Crude oil down $2.79/b- Demand softer in India





Asian styrene monomer markets fell April 27
amid weak upstream crude oil. The front month ICE Brent futures contract fell $2.79/b
on the day to $78.20/b, while upstream benzene fell $22/mt to $928/mt
FOB Korea. Demand in India remains soft, according to sources. Domestic ex-Kandla prices were heard
around Rupees 92-94/kg. In comparison, ex-Kandla prices were heard to be around
Rupees 96/kg in the prior week. "Inventory levels have come off a bit but not
much," said a trader. "Demand remains weak in
general," said another trader. In Southeast Asia, demand remains poor with spot discussions
very limited, said a producer. "One of
our term customers even asked to defer a May delivery cargo, but it's
difficult to find an outlet for it now. " As benzene remain
at relatively high levels to styrene, producers said they are...