Wednesday, December 26, 2007

Price trends of oil, polymer feedstock & commodity polymers in Asia for the...

Crude oil futures witnessed a two dollar gain, spiking to US$93 levels on release of government report showing a more than expected dip in US weekly inventories and increased consumer spending in USA.

CRUDE OIL Crude oil futures witnessed a two dollar gain, spiking to US$93 levels on release of government report showing a more than expected dip in US weekly inventories. Weekly stockpiles shrunk as fog delayed the arrival of imports. Markets also gained strength on increased consumer spending in USA that has gained the most in over two years, signaling economic growth and anticipated stronger oil demand. Oil futures ended at US$93.31 a barrel in New York for the week of December 24, 2007.

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