Market analysts attributed the downturn to weakened international demand and elevated feedstock costs, which continued to erode profitability across the industry. The company also pointed to a glut in global ethylene capacity
Refinery utilization rates edged higher, rising from 84.9% to 86.5% compared to the previous week, which boosted demand for crude input. Meanwhile, total motor gasoline inventories recorded a modest build of 400,000 barrels