European polymer prices continued to fall over the week to 17th July. There were reductions of between 50 and 100 EUR per tonne reported in the prices of PET, Polypropylene, PVC and ABS. In the UK, prices fell across all grades as the Pound gained value against the Euro.
Asian polymers rose with increases of between 10 and 90 USD per tonne reported in the prices of PET, Polypropylene, PVC and Polystyrene. In China the prices of HDPE, LDPE, LLDPE and ABS rose by between 10 and 80 USD per tonne.
U.S. polymers were unchanged apart from a 1 Cent per pound reduction reported in the price of Polystyrene.
West Texas Intermediate and Brent Crude rose to $82.49 and $88.10 per barrel respectively, increases of 15.5% and 15.9%.
Global oil prices rose to their highest levels in more than a month as the US military said it carried out the seventh night of strikes on Iran since President Donald Trump declared the temporary ceasefire agreement was “over”.
In a statement shared on X, US Central Command (Centcom) wrote that its forces “hit surveillance sites, military logistics infrastructure, underground weapons storage, and maritime capabilities”.
Iran claimed to have responded by targeting US allies in the region, including Kuwait, whose army said its air defences had been “confronting hostile missile and drone attacks” following “Iranian aggression”.
Jordan’s armed forces also said it intercepted 10 Iranian missiles fired into its airspace overnight, though no damage was reported.
The U.S. Energy Information Administration reported a 1.7-million-barrel reduction in U.S. crude stocks against a forecast reduction of 2.6 million barrels.