One wave has not leveled off another has risen.

The news of OPEC cuts and Iraq bombings has not gone away

Saudi oil heartland hit again!Straight for the $70 mark!Superimposed recently Dachang regeneration trouble, raw material market prices completely chaos!

After Iraq was attacked, Saudi Arabia was also attacked!

It was only last week that 10 bomb strikes were reported in Iraq on March 3, just four days apart, and 14 drone strikes on the oil hub of the port of Rastanullah in eastern Saudi Arabia on March 7.Who in the end is the black hand that pushed oil to the top?

So far, Saudi Arabia has intercepted missiles aimed at Saudi Aramco facilities, causing no casualties or equipment losses.But news of the attack was enough to support a surge in crude oil.
On March 8th, Brent crude oil futures surged above the $70 mark.Oil is running out of control again!

Brent crude was last quoted at $70.79 a barrel, up $1.43;WTI crude was trading at $67.42 / BBL, up $1.33.

Goldman Sachs expects crude to peak at $75 / BBL this year, possibly topping $80, as OPEC production cuts continue and the oil market expects a shortfall of 1.4 million to 1.9 million BPD.With attacks continuing, another air strike could send the oil market soaring unpredictably.

A sudden!BASF broke out in a fire, the raw material cannot be produced!

In addition to the air strikes on oil-rich countries, the chemical industry is also in turmoil.

As a result of the fire that broke out in the north section of the BASF Ludwigshafen plant on March 3rd, BASF again issued a force majeure statement on March 5th!

It is reported that at least 150 kilograms of methyldiethanolamine in the fire is a slight hazard to water.The accident resulted in the release of BASF’s hydrogen, carbon monoxide and oxygen-containing gases, resulting in the disruption of the supply of hydrogen and carbon monoxide within the company and today the production of neopentylene glycol (NEOL ®) at the Ludwigshafen North site is no longer possible.

BASF had previously issued a force majeure, one after another to increase the price of some products.This BASF force majeure will inevitably cause the price of neopentyl glycol and its related products to rise.

According to the feedback of market news, the average price of neopentylene glycol last month was 12,945 yuan/ton, and the average price of neopentylene glycol last week was 16,300 yuan/ton, up 26%.At present, under the influence of BASF’s production halt, neopentylene glycol is still mainly in short supply, but the downstream trading atmosphere is peaceful, and it is expected that neopentylene glycol will still rise slightly in the short term.

Market quotation of neopentyl glycol on March 8:

North China market quotation 16700 yuan/ton;

East China market offer 16800 yuan/ton;

The price of South China market is 16900 yuan/ton.

Raw material market is still rising!A single discussion is the norm!

Successive events, the chemical market is still rising!

According to monitoring, last week (3.1-3.5) a total of 45 kinds of chemical bulk increase, the top three increase is: ammonium chloride (9.20%), adipic acid (8.52%), ethylene oxide (7.89%).Gains moderated from last week (2.22-2.26).

A large number of commodities in a state of serious supply shortage, titanium dioxide, silicone, calcium carbide and other raw materials have been rising, silicone once again into the closed plate is not reported or a single discussion.

With the surge of crude oil, crude oil industry chain, polyurethane industry chain and other industrial chains have a large number of commodities upgraded again!
A large number of coating enterprises announced “a single discussion”, to stop the old customers of the preferential offer.Paint industry price rise details, please click the link: Cancel discount!Dozens of chemical enterprises crazy increase 20%!A single comment

At present, the market supply is still tight, with the continuous recovery of downstream demand, the chemical market is still expected to rise in the first half of the year.The trend of crude oil will have a direct impact on the downstream trends of the chemical industry. With the recent inflation phenomenon of rising crude oil prices, raw materials will only become more expensive. Please get ready in time and pay more attention to the international military news.