Middle East Tensions Push Oil to Monthly High
International crude oil prices surged amid escalating Middle East conflicts. WTI crude futures rose 1.5% to settle at $79.34 per barrel, while Brent crude gained 1.7% to $84.73 per barrel, both reaching one-month highs.
Strait of Hormuz Situation Raises Supply Concerns
The shifting stance of US President Trump on Hormuz Strait cargo fees, combined with reports of multiple vessels attacked by Iran in the strait, has created new threats to energy flows. As the world's most critical energy transit chokepoint, tensions in the Strait of Hormuz directly heightened market concerns over crude supply.
Plastic Raw Materials Market Strengthens
Driven by rising crude oil prices, domestic plastic raw material markets generally strengthened:
- Polypropylene (PP): Spot price at 9,093 yuan/ton, active trading in futures market
- PVC: Spot price at 4,467 yuan/ton, futures following crude oil upward
- Polyethylene (PE): Notable gains in futures market with increased volume
Market Outlook
Analysts note that without rapid de-escalation of the Middle East situation, energy markets may see intensified reactions to the conflict. As downstream petrochemical products, plastic raw materials have strengthened cost support and may maintain a firm trend in the short term. Downstream enterprises are advised to monitor crude oil movements and plan procurement accordingly.
Sources: Global Market Broadcast, 100PPI, East Money | Published: July 15, 2026
