Market
under omicron variant-led uncertaintyPX
oversupply expected in H1 2022For the sixth consecutive session, the
downward spiral in Asian isomer/mixed xylenes markets continued as
weakness persisted in upstream and downstream markets. Isomer MX was down $20/mt Day on day, $681/mt- $720/mt FOB Korea; $706/mt CFR Taiwan;
$719/mt- $750/mt CFR China on Dec. 2. During Afternoon trade: A bid was made at $680/mt FOB Korea.
However, no offers were received during the day. Concerns about the potential impact of the omicron version
of the Omicron on crude oil futures have put pressure on the Crude Oil Futures. coronavirus. The ICE
February Brent crude futures contract was trading at $69.90/b at 4:30 pm
Singapore time. Comparable to the previous
close of $71.81/b. Paraxylene dropped
$12/mt to $803/mt in the downstream CFR Taiwan/China. Also, Naphtha was assessed at $660.25/mt-$690.25/mt CIF
Japan on December 2, as...