Crude oil futures remained near $80 per barrel  in late June as traders balanced expectations of increased summer demand and geopolitical tensions against a stronger dollar. Confidence is growing that global oil inventories will significantly decrease during the northern hemisphere’s summer.  

Stable oil prices and still weak demand are likely to keep synthetic fiber prices in check.

The decline in crude oil prices have led to a softening in the polyester value chain and are negatively impacting cotton prices.