European polymers rise, Asian and US mixed. WTI and Brent Crude fall

European polymer prices rose over the week to 23rd February. There were increases of between 30 and 65 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, Polypropylene and ABS. In the UK, prices rose against most grades as the Pound lost value against the Euro.   Asian polymers were mixed with increases […]

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Bank of England boss says UK recession may be at an end

The UK recession may already be over and there are now “distinct signs of an upturn”, the Bank of England’s governor has said.   The UK economy entered a downturn at the end of 2023, official figures showed last week.   Nevertheless, the Bank signalled on Tuesday that there was unlikely to be an imminent […]

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Ineos solar farm to be in operation by July

Ineos Inovyn has confirmed that its 60MW solar farm in Belgium will come online in July 2024.   The project is being developed with PerPetum Energy & Green4Power and will supply power exclusively to the Jemeppe production site, which employs over 540 people.   This is part of Ineos’s strategic decarbonisation roadmap to reduce CO2emission […]

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Israel’s economy shrinks more than expected on Gaza war

Israel’s economy shrank by far more than expected in the wake of conflict with Hamas in Gaza, according to official figures.   GDP fell by 19% on an annualised basis in the fourth quarter of 2023.   That is the equivalent of a fall of 5% between October and December.   GDP was “directly affected” […]

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Google backs mission to map methane levels from satellite

Tech giant Google is backing a satellite project due to launch in March which will collect data about methane levels around the world.   The new satellite will orbit 300 miles about the Earth, 15 times per day.   Methane gas is believed by scientists to be a major contributor to global warming, because it […]

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US inflation falls less than forecast

Price increases in the US moderated last month but not as much as expected, as higher housing and food costs offset a decline in petrol prices.   Annual inflation, the pace at which prices rise, was 3.1%, down from 3.4% a month earlier, the Labor Department said.   Many analysts had expected inflation to fall […]

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UK economy fell into recession in Q4 2023

The UK fell into recession during the final three months of last year, official figures show, after the economy shrank by more than expected.   Gross domestic product (GDP) dropped by 0.3% between October and December.   That follows a fall between July and September. The UK is considered to be in recession if GDP […]

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European, Asian and US polymers rise. WTI and Brent Crude rise

European polymer prices rose over the week to 9th February. There were increases of between 5 and 100 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, Polypropylene and Polystyrene. In the UK, prices fell against some grades as the Pound gained value against the Euro.   Asian polymers rose with increases of […]

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BP reports second highest annual profit in a decade

Energy giant BP has reported its second highest annual profit in a decade, despite it being half the level it announced in the previous year.   Profits were $13.8bn in 2023, down from the record $27.7bn in 2022 when oil prices soared in the aftermath of Russia’s invasion of Ukraine.   The price of oil […]

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