International oil prices rise for third day in a row

International oil prices rose for a third consecutive day to close at their highest since mid-June on questions about Saudi Arabia and the UAE’s ability to increase production and concerns about production disruptions in Ecuador and Libya.

On Tuesday (June 28) WTI August 2022 futures settled at $111.76 per barrel, up $2.19, or 2.0%, from the previous trading day; Brent crude oil August 2022 futures on the London Intercontinental Exchange settled at $117.98 per barrel, up $2.89, or 2.5%, from the previous trading day.

Yesterday, domestic crude oil futures were boosted by a sharp rally of 5%, driving downstream commodities to close up collectively.

Overall, oil prices were boosted by the decline in production, coupled with the G7 agreed to study to set a price ceiling for Russian oil, oil prices to maintain a long tone, intraday oil prices focus on OPEC meetings, pay particular attention to EIA data, the EIA will be released for two consecutive weeks of data, need special attention, oil prices are expected to increase short-term or volatility.

Plastic market frequently refresh the year’s new lows

Although oil prices rose, but the price of plastic every day to refresh the new low of the year, the current market situation has entered the irrational killing phase.

The domestic PC market price weakness continues, and the overall decline remains large. At the end of last week, the latest factory price of a foreign brand fell by 1500 yuan / ton, at the beginning of the week, some domestic PC factory factory price cut by 300-1000 yuan / ton, other manufacturers news to be clarified; raw materials bisphenol A continues to go low, the market is expected to continue to fall, it is difficult to have cost support for PC; and the recent domestic PC factory overall start-up remains stable, but the downstream demand is always difficult to Zhen, the market trading resistance Large, the industry itself supply and demand negative pressure still exists, the industry continues to be pessimistic bearish market after the main. It is expected that the short-term domestic PC market weak pattern will not change. The price of Kostron 2805 in South China is 17,400 yuan/ton.

In view of the current overall instability of the plate, for the more steady-minded plastic friends, you can wait and see, waiting for the trend of clarity before operating; for just friends, the buy to buy, change or use, now the price to get are not lost.

Chemwin is a chemical raw material trading company in China, located in Shanghai Pudong New Area, with port, wharf, airport and railway transportation network, and in Shanghai, Guangzhou, Jiangyin, Dalian and Ningbo Zhoushan in China, with chemical and dangerous chemical warehouses, with a year-round storage capacity of more than 50,000 tons of chemical raw materials, with sufficient supply of goods.chemwin E-mail: service@skychemwin.com  whatsapp：19117288062 Phone：+86 4008620777  +86 19117288062