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Oil prices soared 30%, and futures are all about to rise?

 Last Update: 2022-08-22
 Source: Internet
 Author: User

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The recent crude oil market has been very stimulating.
After WTI crude oil futures plummeted to a low of US$20.
06 per barrel on Wednesday, oil prices rose by more than 30%.
Currently, WTI crude oil futures rose 25.
01% to US$26.
04 per barrel, and Brent crude oil futures rose 13.
55.
% to $28.
25 a barrel, while light sweet crude futures rose 25.
16% to $26.
07 a barrel

The rise in oil prices is definitely good news for the plastics industry~ At least there is hope! Sure enough, today's plastic futures market is immediately red:

From the above picture, we can see that Shanghai crude oil futures rose immediately, up as high as 7.
05% to 238.
4 yuan/barrel

Let's take a look at the general material inventory:

General Plastic Packaging

The increase in the original price has not been passed on to the spot market.

Engineering plastic inventory

There is also good news recently that due to the impact of the epidemic, overseas granulation plants in Southeast Asia, Japan, South Korea, Europe and the United States have suspended their shipments to China.

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