In the US market Prices of鈥侻EG climbed significantly, gaining *.*** in January H*. This positive鈥倀rend was essentially attributed to the tight supply conditions and cost support from feedstock and upstream market. Mounting geopolitical strain 鈥� US-Venezuela, growing tensions with Greenland, and US鈥俻lans on Iran - were shaping the crude market, indicative for downstream value chain prices including MEG. According to the EIA report, WTI Crude oil price rose by *.*** to USD **.*/barrel on January **,鈥�****, from USD **.**/barrel on January *, ****.
The price rally was also exacerbated鈥俠y disrupted domestic MEG supply. Point Comfort, Texas-based Nan Ya Plastics Corporation was down for maintenance in鈥倀he first half of January, further tightening local MEG supplies. In鈥俛ddition, major feedstock Ethylene Oxide increased *.*** during the period driven by global crude oil price trends. On the demand side, the domestic MEG consumption from the...
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