In the US market, MEG price experienced a bearish trend during July H*. Weak crude oil prices, low offtake from the downstream market and the tariff-related trade shift were the key factors, supporting the decline of prices. As a result, MEG prices in the US market declined by *.** and reached at USD ***/MT FOB US Gulf during the week ending July ** and the price remained unchanged since then.
In the MEA region prices for the MEG mirrored the same trend during the period. In the Saudi Arabian market, MEG prices declined during the July H*, notably by *.** and reached at USD ***/MT FOB Riyadh. This decline in MEG prices is mainly attributed to the limited overseas inquiry levels and the soft crude oil price trend. Order from the Asian market declined significantly due to the sluggish downstream...
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