Oil prices sink to lowest levels since 2021 before paring some losses
by ChemOrbis Editorial Team - content@chemorbis.com
According to media sources, global oil benchmarks rebounded on Monday’s settlement after moving down to their lowest levels since 2021 amid the banking crisis.
Before this movement, Brent and WTI decreased about $3 a barrel to the lowest level in 15 months. However, both benchmarks increased more than %1 on Monday after WTI plunged below the $65/bbl threshold.
Accordingly on Monday, Brent crude settled 82 cents or 1.1% higher at $73.79/bbl, while West Texas Intermediate (WTI) crude increased by 90 cents, or 1.4%, to settle at $67.64/bbl.
Before this movement, Brent and WTI decreased about $3 a barrel to the lowest level in 15 months. However, both benchmarks increased more than %1 on Monday after WTI plunged below the $65/bbl threshold.
Accordingly on Monday, Brent crude settled 82 cents or 1.1% higher at $73.79/bbl, while West Texas Intermediate (WTI) crude increased by 90 cents, or 1.4%, to settle at $67.64/bbl.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- PVC lags behind bullish January trends in Türkiye’s polymer markets
- PET bottle prices rangebound at more-than-a year low in Europe; Feb signals firming
- PP, PE players in China, SE Asia discuss post-CNY outlook
- Asian ABS markets face renewed drops as weak demand persists into Jan
- China’s PE markets on soft note amid weaker demand, falling futures
- Global PP and PE sellers approach Türkiye with hikes for January
- European PP and PE markets start 2025 on a stable to slightly firmer note
- Global spot styrene markets open 2025 on divergent paths
- New year opens with mixed trends in China’s PVC markets
- China delays major PP, PE startups as expansion plans hit roadblocks