In upstream news, three producers already nominated their new January MEG contracts with $40-80/ton decreases from December. Meanwhile, spot upstream PET production costs are also down both on a weekly and monthly basis for PX and PTA but MEG remained mostly steady. PX and PTA prices are down $30/ton when compared to the beginning of the month while they are $15/ton and $10/ton down on a weekly basis, respectively. On another note, crude oil prices on NYMEX hit below the $35/bbl threshold last Thursday.