European polymer prices continued to fall over the week to 26th June. There were reductions of between 25 and 115 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, PET, Polypropylene and Polystyrene.
Asian polymers fell with reductions of between 20 and 90 USD per tonne reported in the prices of HDPE, LDPE, LLDPE, PET, Polypropylene, ABS and Polystyrene.
U.S. polymers also fell with reductions of between 1 and 5 Cents per pound reported in the prices of HDPE, LDPE, LLDPE, Polypropylene, PVC, ABS and Polystyrene.
West Texas Intermediate and Brent Crude fell to $69.23 and $71.99 per barrel respectively, reductions of 9.6% and 10.6%.
Global oil prices continued to fall sharply as oil tanker traffic moved freely in the ‌Strait of Hormuz, easing supply concerns the day after a cargo vessel was hit near Oman.
No casualties were reported when the ship was struck by a drone on Thursday, an incident that prompted a planned evacuation of thousands of sailors stuck in the region.
The US military conducted strikes on Iranian targets after President Donald Trump accused Iran of a “foolish violation” of its truce following the attack. US Central Command said it had struck missile and drone storage facilities and coastal radar positions.
Shipping data showed that Saudi Aramco has resumed oil loading at its Ras Tanura terminal in the Gulf, after a four-month halt.