By John Richardson WHEN stock markets are rising, the proverbial garden can look as if it is blooming with summer flowers without a weed in sight. But the underlying data suggest wealth inequality is still a major issue in the US, with the inequality creating iconoclastic politics in the US that continue to threaten a […]
Asian Chemical Connections
House Of Cards Waiting To Fall: Oil, Equities And The Economy
By John Richardson HOW much of the rise in oil prices since June of last year has been down to the fundamentals of supply and demand versus the hedge funds taking out a record number of short positions? We are about to find out, I feel. There are early signs that the hedgies have started […]
Chemicals In A Vicious Cycle
By John Richardson OIL prices could fall to as low as $35-40 a barrel or might slip no further than $60-70 a barrel, depending on which analyst you belief. And we know of one global polyolefins company that is working on the assumption that crude, both West Texas Intermediate and Brent, will trade […]
Polyolefins In “Chaos And Panic”
By John Richardson CHINA’S polyolefin market was in “total chaos and panic” this morning, according to a Singapore-based trader. The Dalian Comodity Exchange’s futures contract in linear low-density polyethylene (LLDPE) fell a further 5% this morning after declines earlier in the week, according to ICIC news. The weak futures markets caused a supply surge in the […]
Chemicals Buying & The IEA Decision
By John Richardson CHEMICALS and polymer demand looks even less likely to be supported by “buying forward” following yesterday’s decision by the International Energy Agency (IEA) to release 60m barrels of crude into the market. Here is a bit of context first before we look at the implications of the IEA decision, which, along […]
Petchems And Tomorow’s OPEC Meeting
By John Richardson THE next OPEC meeting – which takes place in Ecuador this Saturday (11 December) – is crucial for petrochemicals for two reasons. Firstly, the crude market has turned bullish recently as a result of the early onset of winter in Europe and the growing belief that the oil-supply cushion is being reduced. […]