Europe top stories: weekly summary

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.