Global crude benchmarks surged more than 2.5% on Monday, with Brent breaching the $90-a-barrel threshold as a near-total halt in Strait of Hormuz vessel transits and hardening diplomatic rhetoric between Washington and Tehran intensified global supply deficit concerns.
Lotte Chemical Corp is reviewing market conditions and actively searching for potential buyers to offload its overseas basic chemical operations, reviving divestment plans across Southeast Asia and the United States to contain balance-sheet leverage amid a protracted regional downcycle.
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.