UK plastics recycling market hit as price of Brent crude falls

Packaging regulation reform is back on the agenda as declining oil prices continue to depress the market value of recycled plastics

Plastic bottles awaiting recycling (photograph: WRAP)The continuing fall in the price of oil is fuelling fears about the viability of the UK recycled plastics market.

Oil prices have been in freefall since last summer with Brent crude trading at a six-year low of $46.54 (£31) a barrel on 12 January, a 58% drop from its June 2014 trading price of $110.

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