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economy

Petchem shipments from Kuwait to China face delays as global shipping tangled up
29 May 2024 The global shipping industry once again scrambles to cope with rising demand, longer transits to avoid the Red Sea, and bad weather in Asia, leading to a sudden and surprise surge in shipping rates.
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29 May 2024

economy

MEDIA: Saudi Arabia plans major sale of Aramco shares to diversify economy

The capital raised from this sale is intended to ease the kingdom's short-term financial pressures and support its ambitious economic diversification projects, including the development of a new city and a global airline.
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29 May 2024

economy

Dalian Commodity Exchange: 29 May 2024 (Night trading)

The 2409 for September 2024 delivery contract on Dalian Commodity Exchange on 29 May 2024 settled as follows:
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29 May 2024

economy

Dalian Commodity Exchange: 29 May 2024

The 2409 for September 2024 delivery contract on Dalian Commodity Exchange on 29 May 2024 settled as follows:
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29 May 2024

economy

Crude oil rose ahead of OPEC+ production meeting

Oil prices surged above $1 a barrel on Tuesday, driven by expectations that OPEC+ will uphold current crude supply cuts at its upcoming 02 June 2024 meeting.
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28 May 2024

economy

Oil rose 1% in a quiet market as tension in the Middle East flared up; OPEC+ meeting

However, traders are monitoring closely the fuel demand data in the US after Memorial Day which marks the start of the summer driving season.
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28 May 2024

economy

MEDIA: South Korean naphtha cracking operators boosted LPG usage amid margin erosion

Reduced demand from South Korean petchem producers has kept spot naphtha prices in Asia below the $700/ton threshold throughout May.
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28 May 2024

economy

MEDIA: Chinese petchem makers' plans for cheap US gas thwarted by shipping bottlenecks at Panama and Suez

The industry’s dependence on US propane has been complicated by crises in the Panama and Suez canals, increasing freight costs and limiting supply access.
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