Morning Briefing - 27 Mar. 2026
CommoPlast
Morning Briefing
27 March 2026
Brent: $108.01 (+ $5.79)
WTI: $94.48 (+ $4.16)
Naphtha CFR Japan: á
Ethylene CFR NEA: á
Ethylene CFR SEA: Stable
Propylene FOB Korea: Stable
Propylene CFR China: Stable
*Data represent closing prices of the previous trading day
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Shortages intensify as demand lags, yet Malaysian PE hits new highs
Malaysia’s PE market has embarked on a supply-driven squeeze, with prices pushing to new highs despite muted buying interest ahead of April producer announcements. Post-holiday demand remains soft and easing Middle East tensions offer limited relief, yet upstream crude volatility and tightening domestic availability continue to lift offers in a sustained manner.
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Malaysian PE reaches record highs as supply crunch offsets lukewarm demand
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Asian naphtha surges as Middle East disruption tightens supply chain
Asian naphtha has reached unprecedented highs as the Strait of Hormuz disruption slashes feedstock flows, leaving regional crackers scrambling to adjust. Refiners are prioritising transport fuels, cutting naphtha yields sharply, and pushing operating rates down across Southeast and North Asia, with shutdowns increasingly likely.
Attempts to plug the gap with Russian barrels are proving marginal, as sanctions and limited cargoes intensify competition. The near-term outlook points to continued supply strain, deeper cracker cuts, and persistent price pressure through the petrochemical chain.
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Naphtha spikes to record levels in Asia as supply woes threaten cracker runs
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