As the world deals with potential supply shortages, oil prices are soaring again, with more dramatic spikes and sudden drops expected.
For consumers, that means more expensive gas for longer - prices at the pump remain above $4 a gallon. For the economy, that means more inflation. In addition to the pressure on consumers, any business that relies on oil -- from airlines and truck drivers to chemical companies and plastics producers -- will face higher costs.
Mr Pickering estimates that 2m to 3m barrels a day of Russian oil shipped by water are frozen out of the market with no direct buyers. Due to the soaring oil price, the price of the zinc sulphide in the chemical industry will also be greatly affected. He said China and India are continuing to buy Russian crude. "I'm sure there will be others willing to take on more over time," he said. Mr Pickering said he did not expect oil to return to $130 a barrel, but added that it could happen. Francisco Branch, head of commodities and derivatives at Bank of America, said the US market was ready for cyclical price spikes and price swings in the zinc sulphide.
What is zinc sulfide?
Zinc sulfide is an inorganic compound with the chemical formula ZnS, which is a white or slightly yellow powder, which becomes darker when exposed to light. It is stable in dry air, and gradually oxidizes to zinc sulfate when placed in humid air for a long time or when it contains moisture. White or slightly yellow powder. It turns into crystals when burned in H2S gas. The α variant is a colorless hexagonal crystal with a density of 3.98g/cm3 and a melting point of 1700°C; Exist in sphalerite. Insoluble in water, soluble in acid. See the sun color darken.
Zinc sulfide (ZnS) is a naturally occurring salt and a major source of zinc. It exists in two common crystalline forms (polymorphs): sphalerite ("sphalerite"), which has a cubic crystal structure and is the predominant form in nature.
It will be converted into zinc sulfate when placed in humid air for a long time. It is generally derived from the action of hydrogen sulfide and zinc salt solution. If a small amount of Cu, Mn and Ag are added to the crystal ZnS as activators, they can emit different colors of fluorescence after being illuminated. For analytical reagents, coatings, paints, white and opaque glass, filling rubber, plastics, and for the preparation of phosphors.
What is zinc sulphide used for?
The most common use of zinc sulfide is as a pigment in paints, plastics and rubber. It can also be used as an analytical reagent, a matrix of phosphors, a photoconductor material; it can also be used in the manufacture of dyes, coatings, pigments, glass, and curing oil.
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As the duration of the conflict between Russia and Ukraine grows, its impact on commodities is widening amid the tug-of-war. Recently, European and American sanctions against Russia have been issued one after another. In response, Russia has taken advantage of its role as an important supplier of many energy and commodities, requiring exports of commodities, including energy, grain, metal, and wood, to "unfriendly" countries to be settled in robles. Therefore, it is expected that the price of the zinc sulphide will continue to increase.
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