Gulf oil shock deepens crisis for Asia’s petrochemicals industry
13 March 2026
Time to read: minutes
Financial Times, March 13, 2026 – The Middle East conflict is disrupting naphtha supplies to Asia, deepening the crisis in the region’s petrochemical industry. Japan and South Korea, which rely heavily on Gulf imports, are facing rising prices and tightening supply, forcing some producers to cut output or warn of shutdowns. The shock is accelerating industry consolidation already underway due to Chinese overcapacity and weak margins.
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