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Oil futures tumbled more than $5 a barrel on news that the Biden administration is considering releasing about 1 million barrels a day from the U.S. Strategic Petroleum Reserve (SPR) for several months to cool surging crude prices.
Brent crude futures were down $4.71, or 4.2 percent, at $108.58 a barrel by 0035 GMT. U.S. West Texas Intermediate futures fell $5.45, or 5 percent, to $102.74 a barrel.
At an earlier time, gasoline prices had already reached record levels because of the Russia-Ukraine conflict.
The prices of other commodities like the Inconel 718 are also expected to be volatile.
What is a superalloy - Inconel 718
Superalloys or high performance alloys are non-ferrous alloys that exhibit excellent strength and surface stability at high temperatures. Their ability to operate safely at higher melting points (up to 85% of the melting point (T m ) in degrees Kelvin, 0.85) is their key feature. Superalloys are typically used at temperatures above 540 °C (1000 °F), as normal steel and titanium alloys lose their strength at these temperatures and steel corrodes at these temperatures.
At elevated temperatures, superalloys maintain mechanical strength, resistance to thermal creep deformation, surface stability, and resistance to corrosion or oxidation. Some nickel-based superalloys can withstand temperatures in excess of 1200°C, depending on the alloy's composition. Superalloys are usually cast in single crystal form, and while grain boundaries provide strength, they reduce creep resistance.
Properties of Inconel 718 Alloy
Physical properties of Inconel718/alloy718: density ρ=8.24g/cm3, melting temperature range 1260～1320℃, processing and heat treatment: it is a difficult-to-process material in the field of machining.
Inconel718/alloy718 cold and hot working: the suitable hot working temperature of the alloy is 1120-900 ℃, and the cooling method can be water quenching or other rapid cooling methods. After hot working, it should be annealed in time to ensure good performance. During hot processing, the material should be heated to the upper limit of the processing temperature. In order to ensure the plasticity during processing, the final processing temperature when the deformation amount reaches 20% should not be lower than 960 °C. Cold working should be carried out after solution treatment, and the work hardening rate is greater than that of austenitic stainless steel, so the processing equipment should be adjusted accordingly, and there should be an intermediate annealing process during the cold working process.
Inconel718/alloy718 is suitable for arc welding, plasma welding, etc. Before welding, the surface of the material should be clean, free of oil stains, no chalk marks, etc., and the bright metal should be polished within 25mm around the weld.
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Recently, Russia's deputy prime minister said that the number of countries buying Russian oil is increasing, including Asian countries. Russia will use the "East Siberia-Pacific" pipeline system to increase exports to Asian countries and promote the diversification of oil output.
He also said that Russian oil Inconel 718 are expected to continue to increase in the future.
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