Category: Inventory

[ad_1] SINGAPORE (ICIS)–China’s petrochemical industry faces yet another challenge – rising inventories and congestion at ports – as global supply far exceeds demand with the country’s own exports hit hard by the fallout of the coronavirus pandemic. Demand for finished goods from two of China’s traditional export destinations, the US and Europe, has shrunk as…

[ad_1] [Ensure you have all the info you need in these unprecedented times. Subscribe now.] Oil fell despite the first U.S. stockpile decline since January. Futures in New York were down 1.4% after the Energy Information Administration said crude inventories fell by 745,000 barrels, indicating that producers recently cutting production hasn’t been enough to lift…

[ad_1] The front-month WTI crude oil contract strengthened to the highest level in more than a month. The WTI-Brent spread also narrowed to the level not seen since March 31. The recovery in WTI crude price was helped by the unexpected decline in US oil inventory. The report from…