Global crude oil futures slipped to multi-week lows on Tuesday as scheduled Russia–Ukraine peace talks in Abu Dhabi and ongoing US–Iran mediation outweighed US airstrikes on Iran's Qeshm Island and a Russian refinery fire.
Hindustan Petroleum Corporation Limited (HPCL) extinguished a late-night fire at an intermediate sulphur pitch storage tank inside its Visakhapatnam refinery on Monday without casualties or disruption to core refining units. Production continues normally across the complex.
The major raised its first November export offers across Asia for a seventh consecutive round, but buyers remain resistant to higher prices as weak end-product demand and more competitive alternatives limit purchasing interest.
| PP | LLDPE | PVC | |
|---|---|---|---|
| Close (CNY/ton) | 10,364 -197 | 9,550 -90 | 5,190 -79 |
| Close (USD/ton) | 1,379 -29 | 1,271 -13 | 691 -12 |
| Volume | 588,161 -19730 | 429,620 -19013 | 987,343 -49273 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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| PX | PTA | MEG | |
|---|---|---|---|
| Close (CNY/ton) | 9,340 -404 | 6,496 -182 | 5,288 -91 |
| Close (USD/ton) | 1,243 -60 | 864 -27 | 704 -14 |
| Volume | 62,630 -6825 | 981,883 -32219 | 346,962 -3396 |
| * All USD prices are excluding VAT basis Volume indicates number of contracts |
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