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Morning Briefing - 23 September 2026Brent and NYMEX both fell for a fifth straight session on 22 September, with Brent down $9.50 (8.7%) and NYMEX losing a steeper $11.24 (10.6%). |
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MORNING BRIEFING
CommoPlast Wednesday, 23 September 2026
commoplast.com
MARKET MOVEMENT
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Brent CRUDE · $/BBL |
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WTI CRUDE · $/BBL |
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99.25 |
94.59 |
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▼1.09 |
▼1.19 |
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▲ Naphtha CFR JAPAN |
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≈ Ethylene CFR NEA |
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≈ Ethylene CFR SEA |
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≈ Propylene FOB KOREA |
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≈ Propylene CFR CHINA |
Closing prices, previous trading day. Monomers show direction only. Other monomers than naphtha are unavailable today.
TODAY’S DEVELOPMENTS
POLYMERS · ASIA
Crude tumbles on Aramco pipeline repairs, but feedstocks decouple from the slide
Brent and NYMEX both fell for a fifth straight session on 22 September, with Brent down $9.50 (8.7%) and NYMEX losing a steeper $11.24 (10.6%), as Saudi Aramco moves toward restoring up to half the capacity on its damaged East-West pipeline this week while also ramping exports through the Persian Gulf, where Saudi crude transiting the Strait of Hormuz has jumped to roughly 2.9 million barrels a day from around 700,000 bpd in August.
Despite the sharp crude correction, the Asian propylene and ethylene markets have failed to follow crude lower. CommoPlast estimates at least 30% of South Korea's naphtha cracking capacity remains offline across a string of shutdowns, a supply-side gap that appears to be holding feedstock prices up even as crude retreats. The divergence points to feedstocks trading on their own fundamentals for now.
PRICE LIST · MALAYSIA
Malaysian polyolefin market braces for firmer October as producer tightens allocations
Malaysia's polyolefin market is tilted for a firmer October as a domestic producer signals a further pricelist increase on genuine supply constraints, with production from the producer reportedly running patchy for months. Compounding that support, naphtha's sharp climb over the past month has reinforced rather than driven the trajectory, giving sellers firmer footing to hold the line.
Sellers are responding by narrowing forward allocations and moving volume quickly rather than chasing price, a caution mirrored by buyers who are holding modest inventory buffers and waiting out China's holiday lull before committing further.
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