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Wood Mackenzie cuts Brent forecast following US-Iran MoU

Wood Mackenzie has forecasted Brent averaging US$78/bbl in 2027 and potentially easing to US$70/bbl by 4Q27, following a US-Iran MoU that has shifted market sentiment away from a prolonged Strait of Hormuz closure.

 
 

INEOS Styrolution announces closure of polystyrene site

INEOS Styrolution has announced its decision to permanently close its polystyrene production site in Illinois, US, with decommissioning and an orderly closure process expected to be completed in 4Q6.