Russia's oil supply is interrupted, oil prices rising to $150 in three months is not a dream? However, slices and bottle flakes continued to fall, and the market was bleak!
Mar 11, 2022
1. Is it a dream that oil prices rise to $150 within three months?
Vitol Group, the world's largest independent crude trader, said the global oil market is likely to get tighter as Russian oil supplies are disrupted and producers such as Libya face supply problems.
This could push up oil prices further. Oil prices soared above $115 a barrel after Russia invaded Ukraine.
Mike Muller, head of Vitol's Asia operations, said on Sunday: "Oil prices are going to zigzag. While I think the world is already pricing in the fact that Russia won't be able to export a lot of oil in the Western Hemisphere, I think we also There is no comprehensive pricing."
His views are in line with those of several commodity hedge funds such as Goldman Sachs and Wall Street banks. The banks believe oil could hit $150 a barrel in the next three months.
2. Intercontinental Exchange (ICE) Raises Margin for Brent Crude Oil Futures by 32%
ICE said it will raise margin requirements by 32% for the ICE Futures May Brent crude futures contract starting Friday. Margin is the amount of money investors must put in in order to trade and hold futures contracts.
3. DuPont issued a price increase letter again! The highest soaring 6700 yuan / ton!
On March 10, DuPont issued a price increase notice saying that due to the current international market conditions, from March 15, DuPont will increase the prices of some products such as PA, PET, POM, and elastomers globally, with a maximum increase of up to 6,700. yuan / tonne! The specific increases are as follows:
Market overview
Crude oil situation:
WTI crude oil futures closed down 2.46% at $106.02 per barrel; Brent crude futures closed down 1.63% at $109.33 per barrel.
Macro overview:
Crude oil prices continued to adjust at a low level overnight, and cost support weakened; new orders in the terminal market were limited, and the mood for replenishment was general, and polyester was mainly purchased for rigid needs;
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