Since Iran launched an attack on Israel in October, global concerns about the situation in the Middle East and the situation of oil producers, international oil prices have risen continuously, rising about 4% last week.

In the early hours of October 26 local time, the Israel Defense Forces announced attacks on a number of Iranian military facilities. Israel's attacks on Iran were reportedly limited to military targets and did not involve oil and nuclear facilities.

International oil prices fell sharply on Monday. Light crude for December delivery on the New York Mercantile Exchange fell $4.40, or 6.13%, to settle at $67.38 a barrel by the end of the day in New York. London Brent crude for December delivery fell $4.63, or 6.09%, to settle at $71.42 a barrel.

Polyester industry chain cost collapse

Since October, the fluctuation of crude oil prices has basically guided the price change of the downstream polyester industry chain.

On October 8, the price of WTI crude oil futures was 77.14 US dollars/barrel, while the price of Brent crude oil was 80.93 US dollars/barrel, and by October 25, the price became 70.19 US dollars/barrel and 74.38 US dollars/barrel, there was a significant decline.

From October 8 to October 25, the prices of various products in the polyester industry chain have declined, PX outer disk quotes fell from $906 / ton to $857 / ton, PTA spot quotes fell from 5400 yuan/ton to 4905 yuan/ton, and polyester POY quotes fell from 7400 yuan/ton to 7150 yuan/ton.

On the 28th, international oil prices fell again, and the collapse of the polyester industry chain cost will continue.

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