WTI Crude Oil Rises Above $80, Brent Crude Tops $85

July 14 — WTI crude extended its intraday gains to 2.9%, breaking above the $80 per barrel mark for the first time in a month. Brent crude rose above $85 per barrel, hitting its highest level since June 12.

SK Hynix CEO Kwak Noh-Jung recently said that the current shortage of memory chips affecting the PC, automotive, and consumer electronics markets is highly likely to continue beyond 2030. In his first interview since the South Korean company completed a record-setting U.S. listing on Friday, Kwak said customers have been signing long-term contracts because they believe the shortage will last longer. SK Hynix, along with Samsung and Micron, has become one of the main beneficiaries of the AI boom. Massive purchases by data center operators have boosted demand for conventional memory chips while also significantly increasing the popularity of high-bandwidth memory (HBM) designed for AI systems. This buying frenzy has further squeezed the supply of general-purpose memory chips, leading to shortages in sectors such as PCs, smartphones, and automobiles. Kwak noted in the interview that SK Hynix’s analysis shows the shortage may continue into the next decade, and feedback from customers confirms the industry’s widespread expectation of a long-term undersupply of memory chips.

Mitsubishi Motors recently announced that it will begin mass production of humanoid robots at its factory in Japan. The humanoid robots, jointly developed with its invested startup Highlands, are expected to go into production around 2027 and will first be used in its own factories, with plans to consider external sales in the future. The company will build new production equipment in the idle space of its engine production plant in Kyoto, with a planned monthly output of 1,000 units.

Recently, the high-density polyethylene unit of Sino-Korean Petrochemical successfully completed the continuous production of three new grades of products, all of which met performance standards. This marks the first time since the unit was put into operation that three new products have been produced consecutively within the same production cycle, signifying a phased breakthrough for the company in optimizing its product mix and advancing toward higher-end development.

July 9 report: Huizhou Renxin PS prices increased by CNY 100/ton. Transparent-grade 525B and 535N were quoted at CNY 9,500/ton, 535T at CNY 9,700/ton, general-purpose grade RH-825 at CNY 10,600/ton, and RH-825G at CNY 10,800/ton; discounts are available for actual orders. The company’s PS plant has a capacity of 300,000 tons/year.