Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 12 April.

Oil slumps by more than $2/bbl on Israel-Hamas ceasefire hopes
Oil prices fell by more than $2/barrel on Monday amid easing tensions in the Middle East after Israel further withdrew troops from southern Gaza and signalled a willingness to resume ceasefire talks with Palestinian militant group Hamas.

EPA’s final rule on US chem plant emissions could weigh on EO production – ACC
The US Environmental Protection Agency (EPA) finalized a rule on Tuesday aimed at reducing hazardous air pollutants from chemical plants, which some think could weigh on production of key chemistries and could lead to higher costs being passed through to consumers.

INVISTA to explore alternatives for nylon fibers business
INVISTA plans to explore strategic alternatives for its nylon fibers business and has engaged Barclays as exclusive financial advisor during the exploration process, the US-based manufacturer of chemical intermediates, polymers and fibers said in a statement late on Tuesday.

US East Coast PET bale prices steadily rise amid snug supply, rising beverage demand
Despite historic patterns, East Coast polyethylene terephthalate (PET) bottle bale prices have risen only slightly and very steadily over the last several weeks.

Crude demand expectations fall for 2024 as trends shift back to pre-COVID pattern – IEA
The International Energy Agency (IEA) on Friday cut crude oil demand forecasts for the year, with rates expected to fall further next year as consumption returns to the pre-COVID-19 trend, increasing the odds of a peak in oil consumption this decade, the agency said.

Argentina’s inflation up to 288% in March, but central bank cuts rates on ‘pronounced slowdown’
Argentina’s annual rate of inflation rose to 287.9% in March, up from 276% in February, the country’s statistical agency Indec said on Friday.