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The Saudi-Russian production cut agreement was not reached, and Saudi Arabia started a crude oil price war.
Under the influence of this, U.
S.
crude oil futures gapped and opened lower, with the largest drop of 34.
23% in the intraday on March 9, the lowest hitting $27.
34/barrel, and closing at $31.
13 / barrel, reaching a new low in recent years.
Under the continuous influence of this incident, US crude oil futures began a "roller coaster" trend in recent days.
After reaching a new low, it stopped falling and rebounded sharply and closed up.
However, the increase in EIA crude oil inventories exceeded expectations, and The spread of foreign epidemics continues to increase.
Yesterday, international crude oil futures closed lower again.
WTI: 32.
98, down 1.
38; Brent: 35.
79, down 1.
43
.
Under the crude oil price war, the polypropylene pellet market trend is ups and downs
.
On the whole, the incident happened suddenly, and both the crude oil and polypropylene market players were caught off guard
.
