LONDON (ICIS)--The US-Israeli-led war against Iran has unleashed extreme volatility across chemical markets, with base oils prices rallying in the first half of March on the back of production woes, spikes in feedstock and shipping costs and supply chain disruption.
The latest attacks are set to cripple the market as the hit on QatarEnergy's Pearl gas-to-liquids (GTL) facility is set to keep 2m tonnes of base oils offline for a minimum of a year.
The ICIS Base oils team looked at the key drivers and what to watch out for next.
Amanda Hay, Lucas Hall, Sophie Udubasceanu, Sam Wright, Michael Connolly, Michelle Liew, Olivia Dai and Whitney Shi discuss the global outlook for base oils.
Additional reporting by Jean Zou and Lynn Tan
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