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 considering run-rate reductions or feedstock switching.

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.