CHEAPER HYDROCARBON SUPPLIES OIL THE WHEELS OF TiO2 DEMAND GROWTH

摘要

Plunging prices for oil and natural gas represent a welcome boost to economic growth prospects, especially for major oil-importing countries (China, Japan, India and the EU). The monthly average price of Brent crude (per barrel) was $US 109 in February 2014. It was $US 58 in February 2015, after dropping below $US 50 in January. Prices as low as this had not been seen since the dark days of Q1 2009, in the depths of the global financial crisis. Charts for other crude oil benchmark prices - West Texas Intermediate and Dubai Fateh - show a similar pattern. Natural gas prices have also dropped sharply. The Henry Hub terminal spot price (per million metric BTU) was $US 2.85 in February 2015 - less than half the $US 5.97 recorded for February 2014 and way below the peaks of $US 13.63 for October 2005 and $US 12.68 for June 2008.