With the correction in crude values throughout this week, prices for Toluene has also witnessed in slowdown in Europe as well as Asian market. Announcement by OPEC member Iran that it plans to boost production within the next four years by at least 700,000 bbl/day has further affected the crude prices. Prices for Toluene were reduced from the level of USd 700/MT last week. Still, if the crude oil price correction continues further, it remains to be seen whether the US exports alone will be enough to take European toluene spot prices higher.
