Oil-Price Escalation Fuels Flurry of Moves by Raw-Material Suppliers
Oil prices that recently hit their highest price levels in two years have sent a wave of price-hike moves through downstream markets, including resins and other raw materials used in coatings.
A combination of the looming threat of war in Iraq and a prolonged general strike in Venezuela recently sent oil prices over the $30/barrel threshold, accelerating the pace of price moves among suppliers of raw materials for coatings.