US-Iran Conflict Drives Rising Crude Oil, Raw Material Prices and Middle East Freight Rates

US-Iran Conflict Drives Rising Crude Oil, Raw Material Prices and Middle East Freight Rates

The ongoing military conflict between the United States and Iran has triggered continuous fluctuations in global energy and logistics markets, bringing widespread cost hikes to international trade and industrial supply chains.

A large number of downstream raw materials including petrochemical products, industrial plastics and chemical materials (TCCA, SDIC, propylene glycol, etc.)have ushered in general price increases, with no short-term price correction expected.

In tandem with raw material inflation, freight rates for Middle East shipping routes have also risen significantly.  Industry forecasts indicate that freight rates will remain high and may continue to rise.

In view of the current market situation, Henan Brilliant Biotech strongly advise all customers and partners to accelerate procurement plans and complete inventory stocking in advance. Proactive procurement can effectively lock in current favorable costs, avoid additional expenditures caused by subsequent raw material and freight price hikes.