India has extended its anti-dumping duty on bottle-grade PET resin from China for a further five years, reinforcing a trade barrier first put in place in 2021 and signalling continued concern over the pricing behaviour of Chinese exporters in one of Asia's fastest-growing packaging markets.
Oil prices edged up 1% as executive doubts over the finality of the US-Iran accord and a historic 1985 low in US inventories triggered a technical bounce, while IEA warnings of a massive 2027 supply glut capped broader gains.