Crude Oil Explosion In Iran Oil Tanker Is Expected To Skyrocket. Chemical Fiber Raw Materials Will Probably Increase.

According to the latest news, Friday (October 11th) Asian market afternoon, the Middle East crude oil supply worries sharp warming, causing oil prices soaring. At present, Brent crude oil rose to 2%, and WTI crude rose 1.8%. Among them, Brent crude oil rose further to close to the 60 US dollar mark, which has set a high level of US $59.98 / barrel since October 1st. WTI crude also surged to $54.57 a barrel, and is still on the rise.

At the same time, the main contract of Shanghai crude oil futures also rose further, expanding to 4%.

Earlier in the day, according to the Iran student news agency, Iran national gas company's tanker exploded near the port of Jeddah, causing oil spills into the Red Sea. The report also said that the cause of the Iran oil tanker explosion is under investigation, and experts say it may have suffered a "terrorist attack". According to market information, the crew of Iran tanker was safe after being processed, and the situation on the ship was controlled after the explosion. Meanwhile, Shana, the official website of Iran's Ministry of petroleum, said that the Iran tanker explosion is likely to be attacked by missiles.

On Thursday, the organization of Petroleum Exporting Countries (OPEC) pointed out that the crude oil market was in the worst supply shortage since the beginning of 2007, in the third quarter of this year, because Saudi Arabia's crude oil facilities were attacked by the reduction of OPEC and its partner countries, which further reduced the supply of crude oil.

According to the OPEC monthly report, from July to September, the demand for crude oil exceeded the supply level by more than 2 million 500 thousand barrels per day. OPEC said that the previous big supply gap was in the first quarter of 2007, when the gap was 2 million 530 thousand barrels per day. The sharp decline in output means that OPEC is unable to meet the level of global demand. Although OPEC produced 29 million 300 thousand barrels per day in the third quarter, it needed to produce 31 million 800 thousand barrels to keep pace with global consumption.

This Iran cruise incident caused a surge in oil prices due to rising supply worries.

Beijing time 14:15, WTI crude oil reported 54.50 U.S. dollars / barrel, Brent crude oil reported 59.98 U.S. dollars / barrel.

What kind of impact will black black swans produce on the polyester fiber market?

We can refer to the incident of "black swan" attacked by Saudi oil field in September 14th. Since the outbreak of the incident, all products related to crude oil have been rising all the way. The raw materials of the textile chemical industry, as the downstream products of oil, are highly relativistic with the price of crude oil. PTA ended the concussion between 5000-5200 points in more than a month and opened up to 5328. Glycol has lost a small increase of patience, opening up in one step, direct trading. All quotations for polyester can not wait to raise 100 yuan / ton. However, the demand for the terminal market is not enough to sustain the increase, and the price of polyester filament is down after the event.

It can be seen that due to rising oil prices, the price of chemical fiber polyester industry chain will probably increase slightly in the short term, but the latter trend is still based on the order of the terminal weaving Market. The impact on our textile industry is limited, there is no terminal clothing orders boosted, the textile industry chain lacks the power to raise prices. The rising price of raw materials will only promote the short-term increase of downstream products, and will eventually follow the market to return to reason.