Petrochemical Margin Compression

Steam crackers in Asia and Europe are facing extreme margin pressure as naphtha costs remain decoupled from the recent drop in crude oil. Operators are reportedly considering run-rate reductions or feedstock switching to propane.

Shipping Surcharges

Maritime risk experts suggest that while the conflict has paused, the backlog of vessels and high insurance rates will keep naphtha prices at a war premium for at least another 30 days.