Since then, oversupply and higher energy prices have been undermining the industry, with the Middle East conflict wreaking additional havoc in recent weeks. The US-Israeli war on Iran is meanwhile disrupting flows of crude and naphtha from the Middle East, key raw materials for Asia’s petrochemicals industry. An employee at BASF Zhanjiang Verbund site in Zhanjiang on March 26. BASF — whose shares are up about 13% this year, giving it a market value of some €45 billion — looks relatively well-placed. While it does source some naphtha from the Middle East, it also has a butane supply agreement with Canada’s AltaGas.

Source: The Edge Markets March 26, 2026 08:33 UTC