India first introduced ADD on PET resin imports from China in March 2021 for a five-year period. The latest revision suggests a renewed commitment to safeguarding domestic industries from unfair trade practices.
The Energy Information Administration (EIA) reported a surprising 3.3-million-barrel gasoline inventory build last week, defying expectations of a 605,000-barrel draw and signalling weaker demand. Additionally, a ceasefire between Israel and Hezbollah eased fears of Middle East supply disruptions.
Total motor gasoline stockpiles increased by 3.3 million barrels in the week ending November 22, climbing to 212.2 million barrels. This surprise buildup defied expectations of higher demand, as market had predicted record levels of Thanksgiving travel.
International crude oil benchmarks continued to decline on Tuesday, 26 November 2024, following reports of a potential ceasefire agreement between Israel and Hezbollah, alleviating concerns over supply disruptions from the Middle East.