Resin Pricing News
Once again the key US energy markets moved in opposite directions, but this week they reversed course. June Crude Oil Futures jumped $4.73/bbl to end the week at a clean $93/bbl. The market has now recovered more than 50% of the losses resulting from a $12/bbl slump during the first half of April to a spike low of $86/bbl. June rolled to the front month Natural Gas contract and finally broke its streak of 9 straight weekly gains during which prices soared more than $1/mmBtu. The market gave back $.214/mmBtu this week to $4.223/mmBtu, this after recovering from Friday’s low of $4.09/mmBtu. This week’s action pushed the Crude Oil: Natural gas ratio out 10% to 22:1.