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

European polymer prices were mixed over the week to 17th January. There were increases of between 5 and 20 EUR per tonne reported in the prices of HDPE, LDPE, LLDPE, Polypropylene, ABS and Polystyrene. There was a reduction of 11 EUR per tonne noted in the price of PET. In the UK, prices rose against most grades as the Pound lost value against the Euro.

 

Asian polymers were also mixed with reductions of between 5 and 30 USD per tonne reported in the prices of HDPE, Polypropylene, PVC, ABS and Polystyrene. There was an increase of 25 USD per tonne noted in the price of PET. In China, the prices of LDPE and LLDPE fell by 5 USD per tonne.

 

U.S. polymers rose with increases of 1 Cent per pound reported in the prices of HDPE, LDPE, LLDPE, ABS and Polystyrene.

 

West Texas Intermediate and Brent Crude oil rose to $77.88 and $80.79 per barrel respectively, increases of 1.7% and 1.3%.

 

Global oil prices recorded their fourth consecutive week of increases as the latest U.S. sanctions on Russian energy trading added to concerns about oil supply disruptions.

 

The Biden administration unveiled broader sanctions last week targeting Russian oil producers and Donald Trump is expected to impose further restrictions when he takes office.

 

However, China’s oil refinery throughput in 2024 fell for the first time in more than two decades, excluding the pandemic year of 2022, government data revealed, as plants tempered operations in response to stagnant fuel demand and depressed margins.

 

The active, U.S. oil rig count fell by two to 478 this week, according to energy services firm, Baker Hughes.

 

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