Europe top stories: weekly summary
ICIS Editorial
20-Jan-2025
LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 17 January.
US
steadies 2025 growth outlook as Europe
struggles – IMF
Global economic growth this year is expected
to increase modestly compared to 2024, the
International Monetary Fund (IMF) said on
Friday, as stronger expectations of US growth
offset an increasing bearish outlook for
Europe.
Europe jet fuel prices
lift off with Brent surge, but demand fails
to take flight
Jet fuel spot prices in Europe climbed in the
week to 14 January, mirroring a rally in
upstream Brent crude and gasoil values.
However, activity in the physical market
remained sluggish, weighed down by low buying
interest and abundant supply.
Latest US sanctions
could hit Russia oil supply – IEA
The latest tranche of US sanctions on
Russia’s oil trade could affect flows from
the country, while weather-related production
shut-ins in North America could also impact
global supply, the International Energy
Agency (IEA) said.
Europe naphtha climbs
on Brent gains amid sluggish buying, weaker
margins
Open-spec naphtha (OSN) spot quotations in
Europe have been on an upward trajectory,
rallying on the back of firming Brent crude
values. This was despite subdued blending
requirements and poor feedstock demand which
kept market liquidity low.
PP
and PE Africa markets rebalance, some price
rises emerge amid lacklustre demand
Spot prices in the African polypropylene (PP)
and polyethylene (PE) markets were mostly
stable in the first full week of January,
although upward momentum was felt in high
density polyethylene (HDPE) and low density
polyethylene (LDPE) due to tightening supply.
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