MATERIALS OUTLOOK IN MAY

Rising oil prices, triggered by increased tensions in the Middle East, could drive up prices for synthetic fibers.

A jump in oil prices to $100 should prove temporary unless Russia and Saudi Arabia opt to extend supply cuts for longer, according to commodities analysts at SEB bank “It’s a totally artificial price controlled by Opec. The big question is what will Opec do in Q3,” they said.

A sustained jump in energy prices could impact more downstream suppliers as well by pushing up manufacturing costs.