SABIC declared force majeure due to the US/Iran war, causing disruptions in the Hormuz strait that altered styrene trade flows, prompting India to seek new supplies.
1 report, 1 independent
Updated Jun 18
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What happened
SABIC declared force majeure due to the US/Iran war, causing disruptions in the Hormuz strait that altered styrene trade flows, prompting India to seek new supplies.
Who's involved
What this event is mainly aboutKeep exploring
Part of
The Middle East faces instability, with Iran central to the conflict, while the closure of the Strait of Hormuz harms the global economy.Also in this story
- Binding and expanded agreements for LNG supply have been secured, despite the ongoing conflict resetting the supply and demand backdrop.
- Energy prices affect interest rate reviews by the ECB, while a ceasefire allows detailed negotiations on conflict in the Middle East.
The entities involved
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Middle East
geopolitical region encompassing Egypt and most of Western Asia, including Iran
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SABIC
chemicals manufacturing company