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Rising crude sets polyester chain market on uptrend in September

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Crude oil prices rose in September due to disruptions in US gulf coast aftermath Hurricane Harvey while geopolitical instability in Iraqi Kurdistan aided Brent to register its strongest third-quarter price performance since 2004. US crude prices jumped 4.2% on the month while Brent rose 7.6% as compared to previous month’s average. For September, Asian spot naphtha prices were up 10.4% on the month.

Will the crude oil price free fall stop, will chemical fibres react?

Related Keywords: acrylic prices, naphtha prices, Nylon prices, oil prices, Polyester prices

Crude oil prices have retreated US$50-53 per barrel or US$360-390 a ton since its peak of June 2014. More than that, the first two weeks of December has already seen them falling more than US$11 a barrel, the fastest drop in a shortest period not heard in recent years. International benchmarks have touched new five-year lows on 12 December after the world's energy watchdog forecast even lower prices on weaker demand and larger supplies next year.

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