The US and Iran are once again attacking each other, and the sharp escalation of the conflict has caused the market to reprice geographical risks. The prospects for navigation through the Strait of Hormuz have once again been overshadowed, and supply-side tension and expectations have reignited. Ethylene glycol rose and stopped yesterday. In terms of fundamentals, supply and demand for ethylene glycol have increased and the pattern has weakened marginally. However, current inventories have not bottomed out, spot circulation continues to be tightened, port inventories continue to reach new lows, and bullish sentiment is concentrated and erupting. Only a few ethylene glycol vessels were observed crossing the strait last week but mostly stopped near Oman, causing the market to doubt the delivery of future supplies. Overall, the situation between the US and Iran has failed to show positive developments, and ethylene glycol stocks and base differences have been strong mainly.

The US and Iran are once again attacking each other, and the sharp escalation of the conflict has caused the market to reprice geographical risks. The prospects for navigation through the Strait of Hormuz have once again been overshadowed, and supply-side tension and expectations have reignited. Ethylene glycol rose and stopped yesterday. In terms of fundamentals, supply and demand for ethylene glycol have increased and the pattern has weakened marginally. However, current inventories have not bottomed out, spot circulation continues to be tightened, port inventories continue to reach new lows, and bullish sentiment is concentrated and erupting. Only a few ethylene glycol vessels were observed crossing the strait last week but mostly stopped near Oman, causing the market to doubt the delivery of future supplies. Overall, the situation between the US and Iran has failed to show positive developments, and ethylene glycol stocks and base differences have been strong mainly.