8Oil prices slipped on Monday, giving up earlier gains as investors took profits after a surge in the previous session, but global supply fears loomed with the European Union preparing to phase in a ban on imports from Russia.

8As the West ramps down its consumption of Russian energy supplies due to the invasion of Ukraine, markets in the developing world stand to benefit from discounted, sanctioned supplies. India is already stepping up imports of affordable Russian oil, and it is expected to begin accepting cargoes of Russian coal at scale.

8India’s April crude imports hit record with refiners importing more mideast and Russian grades. Russian-origin crudes hit 5% of India’s total seaborne imports in April for the first time, rising from under 1% throughout 2021 and Q1 2022.

8Both Moragoda and Kumar Chaturvedi discussed possible ways and measures to ensure that chemical fertilizers from India to Sri Lanka are supplied continuously under the existing Credit Line and beyond 65,000 metric tons of urea to the island nation.

8The Jordan Phosphate Mines Company (JPMC) has signed 1.5 billion U.S. dollars deals with several Indian companies to increase the exports of phosphate and fertilizers.

On May 16, 2022, VAM prices pushed higher in the Ahmedabad market.

A fall in propylene glycol prices in the domestic market of Kandla was noticed on May 16, 2022.

Manganese oxide prices were quoted higher in the metal market of Ahmedabad.

Chrome oxide prices were much higher in the Mumbai market today.

Copper plate prices are lower in the Delhi metal market today.

A huge rise in glyphosate prices was reported in Delhi today.

Polymeric MDI prices moved higher today in the Mumbai chemical market.

Petrochem sources have reported a rise in Delhi’s rubber SEBS grade 6302 today.

Styrene monomer prices have escalated in the Delhi market, today. 

Petrochem sources reported a significant fall inpure acrylic emulsion prices in the Mumbai market.

A sharp lift inisobutyl aldehyde prices in the Mumbai market was recorded today.

On May 16, 2022 ABS prices were reported to be unchanged for South Korea, FE Asia, South East Asia, India and NW Europe due to steady demand patterns in the region.

On May 16, 2022 PVC prices in the international market remained unaffected, with prices remaining unchanged.

On May 16 , 2022, naphtha prices were registered to move up in NW Europe on account of positive buying trends in the region.

Prices of rPP injection moulding (polypropylene scrap) have witnessed a sharp decline in Mumbai.

Ahmedabad Petrochem sources have reported a rise in aluminum bar (6063-100mm) prices today.

A rise in zinc oxide prices was noted today in the market of Delhi.

Trichloromethane prices moved higher today in the Delhi chemical market.

Petrochem sources from Mumbai have reported a significant fall in tetrachloroethyleneprices.

On May 16, 2022, the Delhi market witnessed a significant fall in isobutylene prices.