Tight supply, steady demand and volatile crude oil and feedstock values were impacting spot pricing in Asia, with most spot prices moving up and remaining under upward pressure. The Golden Week in Japan and Labor Day holiday in South Korea were expected to partly dampen activity next week.
Market participants kept an anxious eye on crude oil prices, which showed wild fluctuations because of the ongoing Russian attacks on Ukraine, along with other geopolitical issues. Crude futures plunged by more than 6% in early trading on Monday but bounced back on Tuesday and perpetuated a mostly upward trend the rest of the week.
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