European polymer prices rose over the week to 9th October. There were increases of between 10 and 25 EUR per tonne reported in the prices of PET, PVC, ABS and Polystyrene. In the UK, prices fell across most grades as the Pound gained value against the Euro.
Asian polymers were unchanged apart from an increase of 25 USD per tonne reported in the price of Polystyrene.
U.S. polymers were mixed with increases of between 1 and 2 Cents per pound reported in the prices of HDPE, LDPE, LLDPE and PVC. There was a reduction of 1 Cent per pound noted in the price of Polypropylene.
West Texas Intermediate and Brent Crude rose to $91.85 and $104.72 per barrel respectively, increases of 0.8% and 2.4%.
Global oil prices rose slightly as Hurricane Isaias moved toward the northern Gulf of Mexico and oil companies shut more than 70% of crude production in US waters.
Earlier in the week crude prices were down as US President Donald Trump said talks with Iran to end the war in the Middle East had been “productive” and that Russia had agreed to offer diesel “to the American and global marketplace”.
Trump said Russian President, Vladimir Putin will release 300,000 tonnes of diesel immediately followed by 500,000 tonnes in November and another million after that.
It is understood the US Treasury is suspending sanctions on Russian diesel exports until 7th April as part of the deal, but other assets like those in American banks are still frozen.