Crude oil prices surged in early June 2025, driven by escalating geopolitical tensions following Israeli airstrikes and Iranian retaliation. Brent futures rose almost 6% to $73.58/barrel, despite Iranian oil production remaining unaffected. This volatility is set to continue, influenced by potential U.S. tariffs and OPEC+ production changes. Meanwhile, China, the world's largest importer, is building crude stockpiles. Its May imports fell, but domestic production slightly rose. China's refining is less than its available supply, enabling it to stock up and potentially reduce future imports as prices climb due to Middle East fears, including Iran's threat to close the Strait of Hormuz.
The crude oil prices rebounded significantly as June 2025 began. Crude oil prices soared massively following Israel’s airstrikes on Iran, a move that jolted global markets amid fears of a broader regional conflict. This attack has caused the stocks to deplete considerably which triggered geopolitical...
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
