Packaging and FMCG companies look for relief as crude retreats; $80-a-barrel seen as key threshold

Packaging and FMCG companies said US-Iran peace talks have helped ease tensions in the Middle East, pushing crude prices down from their conflict highs. They expect that if oil stays below $80 per barrel, the decline will gradually feed through to resin prices, energy costs in glass manufacturing and packaging procurement. Glass bottle makers said supply chains will take longer to recover, even as the near-term direction for crude prices has turned lower. The shift is being driven by reduced geopolitical pressure on oil.