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Oil prices continue to rise, and the polypropylene upward cycle has arrived

Categories: Technical documents
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Time of issue:2020-12-27 18:54
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(Summary description) After a lapse of one year, international oil prices were affected by the rise in the international crude oil market, and the increase in crude oil chemical products ranked among the top.

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Oil prices continue to rise, and the polypropylene upward cycle has arrived

Categories: Technical documents
Author:
Origin:
Time of issue:2020-12-27 18:54
Views:

Information

After a lapse of one year, international oil prices were affected by the rise in the international crude oil market, and the increase in crude oil chemical products ranked among the top. Due to the freezing of oil well operations in the United States, severe cold has caused a record oil production plunge of nearly 40%. According to traders and industry executives, the country’s daily crude oil production has fallen by more than 4 million barrels. As unprecedented cold weather has frozen oil well operations in the central region of the United States, total oil production in the United States has plunged nearly 40% on record. U.S. crude oil transportation overseas has been disrupted for most of this week.

On the same day, the New York crude oil price continued to hit a new high during the Asian trading session, reaching above US$62/barrel, refreshing a one-year high, while Brent crude oil futures rose to a distance of US$64.68 per barrel on Wednesday.

Plastic futures rose collectively: PP rose 7.18%, PE rose 8.06%

PE and PP futures rose continuously, and PE futures rose 600 yuan/ton in two days.

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