Industry News
Chemical Industry News
CRUDE SUMMARY: Crude’s weekly price rise highest since 2022, further gains likely next week
Brent M1-M7 spread widening as tight market conditions intensify Heavily backwardated market could tease barrels out of inventory if countries sense short conflict Gulf storage nearing full capacity,...
New Venezuela natgas could support Methanex’s Trinidad plants – CEO
TORONTO (ICIS)--Potential new Venezuelan natural gas developments could support Methanex’s methanol plants in Trinidad, the company’s CEO said on Friday. “There are announcements about fields...
Europe toluene March contract hits 19-month high
LONDON (ICIS)--The Europe toluene March contract price was assessed this week increasing by $132/tonne from February. The March contract price was assessed at $960/tonne on a FOB (free on board) NWE...
European PX, OX spot prices jump on Asia supply disruptions, rising feedstock costs
LONDON (ICIS)--European paraxylene (PX) and orthoxylene (OX) spot prices soared this week on the back of surging upstream costs and lower operating rates in Asia, as producers there grapple with...
Mideast ex-tank UAE base oils surge with conflict-driven supply disruptions
SINGAPORE (ICIS) – Ex‑tank prices in the UAE surged as supply channels tightened following the effective closure of the Strait of Hormuz when the US–Iran conflict broke out. With no fresh...
Middle East methanol plants not damaged in war, so far – Methanex CEO
TORONTO (ICIS)--While shipping in the Middle East has been disrupted, so far none of the region’s methanol plants have been damaged by the US-Iran war that began on 28 February, Rich Sumner, CEO of...
Europe methanol spot prices climb 11%, hitting January 2025 highs
LONDON (ICIS)-- European methanol spot prices surged to January 2025 highs following the outbreak of the Middle East conflict and the closure of the Strait of Hormuz. Iranian methanol production...
Africa PE prices up on Strait of Hormuz closure, damages on upstream operations in the Persian Gulf
LONDON (ICIS)--Africa's polyethylene (PE) spot prices firmed low to mid triple digits in the first four days after the US and Israel's offensives on Iran irrupted on Sunday last week. Although offers...
Gains in Asia base oils come into view, with India’s short-lived cushion set to fade
SINGAPORE (ICIS)--A week into the US–Iran conflict, the Asian base oil markets remain in flux, with market participants struggling to identify a new equilibrium amid daily shifts in sentiment and...
Methanex sees 18-20 million tonnes/year of Middle East methanol exports shut in – CEO
NEW YORK (ICIS)--Global methanol producer Methanex sees 18-20 million tonnes/year of Middle East supply constrained by the effective shut-in of the Strait of Hormuz, which will significantly impact...
ICIS POWER INSIGHT WEEK 10 NEWS IN BRIEF
This news summary was generated via Ask ICIS LONDON (ICIS)--Please find below a short summary of the key power stories ICIS published in week 10. FBMC WEEKLY: Limited day-ahead price reaction to...
European acetone spot truck prices climb on ongoing tightness
LONDON (ICIS)--Spot acetone truck prices rose this week on the European market. The market remains snug - with some players perceiving it as even tighter this week. Prices increased through the week,...
ICIS GAS INSIGHT WEEK 10 NEWS IN BRIEF
This news summary was generated via Ask ICIS LONDON (ICIS)--Please find below a short summary of the key gas stories ICIS published in week 10. EU to discuss gas supply security, energy prices as...
Styrene players warn of overheating risk as Europe spot prices surge
LONDON (ICIS)--Market players at a key industry event in Rome cautioned that the latest upswing in Europe styrene spot prices had been rapid, and that the downstream market could defer purchasing. A...
Romania clinches €150m EU aid to expand battery capacity
EU grant to support fivefold expansion of battery generation Funds disbursed as investment aid through direct grants Romania's battery capacity stood at 200MW as of late 2025 LONDON (ICIS)--The...
European gasoil, jet premiums spike as Middle East conflict tightens supply chains
LONDON (ICIS)--European gasoil and jet fuel markets have seen a dramatic repricing this week as escalating conflict in the Middle East compounded existing logistical and supply constraints. These...
Africa PP prices up on closure of Strait of Hormuz and damage to oil and LNG operations
LONDON (ICIS)--Africa polypropylene (PP) homopolymer raffia values gained 12.7-14.5% and PP copolymer prices rose by 12.8-15.8% this week in Africa. The markets saw first offers and deals concluded...
WEEKLY POWER OUTLOOK: US-Iran conflict to remain key driver, but warmer weather may pressure spot
Low German wind forecast in early week 11 likely counteracted by high temperatures and solar output French nuclear availability set to remain stable above the five-year average Hungarian spot power...
Italian gas-grid operator unfazed by seasonal backwardation ahead of injection season
Snam CEO says no volume issues for Italy at present despite backwardation Energy decree described as 'positive move' Still time to support gas injection, CEO maintains MILAN (ICIS)--Italian gas...
INSIGHT: Fertilizer supply chains strained as Middle East conflict escalates
LONDON (ICIS)--The global fertilizer market has entered a new phase of volatility as the escalation of the conflict across the Middle East reverberates through nitrogen, phosphate and sulphur...