Crude oil futures spiked past US$83 per barrel in New York on release of data by the Department of Energy reporting a drop in inventories for the week. Naphtha prices have risen in line with robust crude prices. EDC prices have dipped due to slack demand from downstream buyers, and VCM prices stagnated despite a dip in upstream VCM prices. Ethylene prices dipped on weak demand from end-users and propylene prices spiked due to tight supplies. Styrene prices rose marginally on rising feedstock prices. HDPE, LDPE, PP, GPPS, ABS, prices stagnated on low level of market activity after the Chinese have returned from the week long break. LLDPE and PVC prices dipped due to persistent dull market outlook and weak demand from China have kept prices down
CRUDE OIL Crude oil futures spiked past US$83 per barrel in New York on release of data by the Department of Energy reporting a drop in inventories for the week. Oil prices also rose on anxieties over possible Turkish invasion of Northern Iraq. The market was teeming with concerns that Turkey may seek to quash Kurdish rebels by invading northern Iraq, reportedly at any diplomatic costs.
Tuesday, October 16, 2007
Price trends of oil, polymer feedstock & commodity polymers in Asia for the...
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