The international crude oil market fluctuates violently! The latest data on April 17 shows that the price of Brent crude oil has stabilized in the range of 98.28-99.39 US dollars / barrel after rising 4.7% yesterday night; WTI crude oil quoted 94.69 US dollars / barrel . Oil prices have fallen from previous highs, but have rebounded strongly in the short term, bringing a complex situation to the textile and chemical fiber industry chain in which cost pressure has been eased but not completely eliminated.
Crude oil is the basic raw material of the chemical fiber industry, and its price fluctuations directly affect the cost lifeline of polyester, nylon and other products. Although the current oil price has dropped significantly from the historical high of over $110, its return to the 90-$100 range means that upstream chemical prices are still high. For textile companies, fuel costs and chemical fiber raw material procurement costs are still important expenditure items, and profit margins are still squeezed to a certain extent. However, market analysis points out that this round of rebound is more driven by short-term geopolitical factors. The demand side has not yet fully recovered, and there is insufficient momentum for the continued sharp rise in oil prices. The overall judgment is that although the cost pressure on chemical fiber still exists, it has been significantly alleviated and is within a controllable range. This provides a relatively stable external environment for companies such as Li County Oumu Woolen Textile Co., Ltd. to maintain stable product prices and ensure profits from orders.