ANALYST VIEW-Saudi attacks raise spectre of oil at $100/barrel.
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
Global PE price war begins as supply grows and demand fades.
A global polyethylene (PE) price war is developing as multiple new capacities come onstream just as demand growth stalls on the back of the US China trade war, Brexit, regulatory pressure on single use plastics, and other uncertainties which are dampening consumer and industrial confidence.
Spot LDPE, LLDPE prices hit a decade low in Italy.
In Italy, PE prices have slumped further down, with the downtrend resuming after a mostly stable August. The larger-than-expected decreases in ethylene contracts pushed spot LLDPE prices to a decade low shortly after LDPE.
Turkey’s import PP market slumps to 3-year low on supply glut, low demand.
Import homo-PP prices in Turkey have been gradually falling for the last 4 months. The primary reason behind the constant declines is hesitant demand amid tight liquidity and the ongoing economic woes.