Global crude benchmarks advanced more than 1.5% on Friday, lifted by renewed maritime strikes in the Strait of Hormuz, Russian export disruptions, and escalating geopolitical friction between Washington and Tehran.
India’s newly mandated liquefied petroleum gas (LPG) contingency targets strengthen domestic energy security but introduce structural vulnerabilities for the downstream petrochemical sector, threatening feedstock availability for propylene and polypropylene (PP) producers during supply disruptions.
Global crude benchmarks fell more than 2% on Thursday, snapping a multi-session rally as a massive surge in US crude inventories and downgraded global demand forecasts overshadowed ongoing Middle Eastern supply disruptions.
Global crude benchmarks edged higher on Wednesday to maintain one-week highs, as persistent maritime strikes and diplomatic deadlocks in Middle Eastern negotiations were largely counterbalanced by slashed global demand forecasts.