The International Energy Agency expects the global oil market's rebalancing to accelerate in the short term, having "almost balanced" in the first quarter as OECD commercial stocks fell for a second consecutive month in March, it said Tuesday in its monthly Oil Market Report. SEE MORE Spot prices of major petrochemicals products in Asia have been on a downtrend since April amid slumping crude oil prices and poor downstream demand in the region, particularly in the key China market. SEE MORE The euro zone increased its trade surplus with the rest of the world in March with both exports and imports rising markedly, in a sign that global commerce has so far not been hampered by protectionist calls. SEE MORE US toluene prices gained ground last week as energy and RBOB lent support. Spot toluene traded as high as 220 cents/gal, up about 7 cents from earlier in the week, and these higher numbers were crunching TDP/MSTDP margins as benzene continued to stagnate and xylenes rose at a slower clip than toluene. SEE MORE Olefins prices are seen under pressure as several crackers have restarted. While imports are seen applying further pressure on ethylene, European butadiene is following signals from Asia where prices dropped $175 last week. SEE MORE