Crude Oil Price

 China announced to emancipate crude oil from its strategic reserves with the intention to limit the inflating oil prices in the country. The decision comes as a relief amidst the incessantly rising energy costs that cover crude oil, natural gas, and coal. The repercussions of rising energy prices have hit some Chinese provinces where factories have reduced their plant operations due to electricity supply outages. The National Food and Strategic Reserves Administration confirmed to make state oil reserves available to select chemicals and refinery companies through its first-ever public auction that will be conducted phase-wise.  Crude oil is a naturally occurring hydrocarbon-rich fuel that is present in underground reservoirs and extracted through the drilling process. Crude oil is an extremely important fuel source that underpins industrial growth and modern living by providing fuel to the transportation sector, supplying energy for electricity generation, and providing fee...

Propylene Glycol prices in USA have been rising since July with the prices at USD 2520 per tonne as per ChemAnalyst Database in August up almost 7% from the past month. The price rise is triggered by a tight feedstock Propylene Oxide (PO) supply. The supply of feedstock PO is low due to Dow Chemical’s force majeure which has further escalated buyer’s worries. Production has also been affected due to the hurricane Ida-related power outages and logistical constraints.  The demand on the other hand is high from the downstream Unsaturated Polyester Resin (UPR) market. Hence the price rise is supported by both the tight supply and buoyant demand.  Propylene Glycol is a viscous, colorless, odorless liquid. It has several applications including building and construction which is a growing market for Unsaturated Polyester Resin, transportation in which Propylene Glycol is used as a deicing fluid, automotive coolant, and hydraulic and brake fluid.  The global Propylene Glycol dem...