The external surface of the macro, the current oil market is not clear, the United States WTI12 month crude oil futures set prices on Friday (November 18th) rose $0.14, or 0.31%, at $45.56 / barrel, oil prices rose sharply higher Friday, last week, for the first four weeks; recipients in the market increasingly expected OPEC (OPEC) way to limit production will be found in the end of this month. At the same time, ICE January Brent crude oil futures electronic trading prices rose $0.86, or 1.87%, at $46.86 / barrel. Brent crude oil rose last week, for five weeks for the first time. According to Iran’s Shana news agency, Iran’s oil minister on Saturday (November 19th) in Tehran and OPEC Secretary General Barkindo (Mohammed Barkindo) said the negotiations will meet in November 30th, held in Vienna, OPEC is likely to stop oil production agreement signed on, once the agreement is signed, the price of oil will be may be increased to $55 a barrel. Some analysts said oil prices rise or fall, has been meeting in November 30th before the OPEC statement based on state. The price depends on the performance of OPEC long oil production agreement optimistic or pessimistic. Whether crude oil production is still uncertain, but recently the dollar is strong go all the way, and in the follow-up to the Fed rate hike expectations, the dollar is still strong may. And the RMB exchange rate has hit a new low of nearly eight years, put pressure on the dollar, in unstable conditions, the latter part of the RMB may still go down, the remaining impact on liquidity.
| Sulfamic acid 99.50% |
In summary, although the glycol fundamentals support foundation, but the market shocks still require external news guidance, short-term crude oil market trend is unknown, the dollar continued to strengthen, the RMB is easy or hard up, still impact on liquidity. Expected short-term ethylene glycol is still room to rise, but the increase or limited, the market will narrow the main shock.
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