Dow exploded, crude oil oscillated, and raw materials continued to rise!

On July 21, local time, a chemical spill occurred at the Dow Chemical Company in Laporte, Texas, USA. Due to the danger of air pollution and explosion, the local emergency department required residents within a radius of half a mile (about 1.6 kilometers). Evacuate immediately.

According to reports, at 7:27 am on the 21st, Dow Chemical Company reported to the local government that a chemical leak had occurred in the factory. At about 8:30 am, local emergency department officials issued an evacuation alert. It is understood that the cause of the incident was excessive pressure inside a storage tank in the factory, which caused the hydroxyethyl acrylate to leak from the storage tank valve. The storage tanker may explode if the temperature is too high.

02
Oil prices continue to fluctuate strongly after getting out of the "V"-shaped reversal
Last Friday, oil prices continued to fluctuate strongly after exiting the "V"-shaped reversal. The spread of the fourth round of the epidemic and the continuous increase in the number of wells in the United States, etc. Among them, considering that the fourth wave of the global epidemic has just begun, the pace of economic recovery is certain to slow down, and the point in time when it rises again may move back. This also means that the possibility of a sustained plunge in oil prices is still unlikely. Only because OPEC+ has reached an agreement to increase production starting in August, the slower pace of recovery in crude oil demand may mean that the problem of tight supply in the third quarter is not as acute as before, affecting the room for oil prices to rise again.

On the whole, it is believed that because the fourth round of the epidemic has just spread, the number of newly diagnosed people in the world is still increasing, and oil prices may still fluctuate in the short-term. In the long run, the probability of a complete out-of-control of the epidemic is low, which means that the recovery of crude oil demand is only a post-tempo, and it is still possible to maintain the view that it will rise again in the third quarter.

04
Follow up with peers! August rally scheduled!
Before August, the price increase information will go ahead. The range of rising products involves resin, polyurethane and other industrial chains!