Feedstock Normalization Expected

The resumption of normal export rhythms from Kuwait and the UAE is expected to add nearly 4 million tons of naphtha back to global markets by June. Traders are liquidating long positions in anticipation of this supply wave.

Cracker Margin Outlook

Steam crackers in South Korea and Japan are seeing a path to sustainable profitability for the first time in months. This is expected to drive higher utilization rates and lower polymer prices for manufacturers by late summer.