Crude oil prices dipped marginally to US$81 a barrel in New York in the week, due to a stock build up in USA that has eased concerns regarding inadequacy of supplies during peak demand season in winter. Naphtha prices have dipped in line with weakening crude prices and a supply glut into Asia from India. EDC stagnated as downstream VCM and PVC buyers refrained from buying and VCM prices softened on weak PVC demand. Ethylene and propylene prices stagnated due to lack of buying intentions. Styrene prices rose marginally on firming demand.HDPE prices rose on robust demand from non Asian countries, LDPE prices rose on tightening availability, ABS prices climbed along with rising feedstock prices. LLDPE markets stagnated. PVC and PP prices dipped on lack of transactions.
CRUDE OIL Crude oil prices slipped marginally to US$81.22 per barrel in New York in the week of Oct 8, 2007. An unexpected increase recorded in oil inventories in USA was responsible for the bearish market sentiments. A stock build up has eased concerns regarding inadequacy of supplies during peak demand season in winter.
Thursday, October 11, 2007
Price trends of oil, polymer feedstock & commodity polymers in Asia for the...
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