Hamburg (Germany): The prices of Nitrile Butadiene Rubber (NBR) have been showing an upward trend in the European and Asian markets. The rise in upstream Butadiene prices, coupled with an increase in crude oil prices, has been driving the price realization of NBR. According to market sources, crude oil prices rose last week after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) maintained their forecast for robust global oil demand growth in xxxx. Expectations of higher fuel demand during the summer months also contributed to the price rise, with Brent crude futures climbing to USD xx.xx per barrel, continuing their recovery from last week&#xx;s four-month low of USD xx.xx. Additionally, the rise in freight charges amid the Red Sea crisis and container shortage has escalated transportation costs for NBR.
The ChemAnalyst database shows that NBR prices increased by USD xx per ton...
