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Iran War Highlights Risks In The Chemical Supply Chain
Posted
April 15, 2026
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April 15, 2026
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11:22
8:25Now PlayingJohn Roberts, Mizuho Managing Director joins to discuss the supply chains in the global chemicals market continue to cause disruptions, a a volatile new cycle with cross-industry impact could be underway. Saying that everything in the synthetic world comes from the barrel of oil. US spot petrochemical prices climbed further last week, with spot polymer-grade propylene rising to its highest in more than three years after shipping disruptions in the Strait of Hormuz.
Spot polymer-grade propylene, or PGP, rose to 61.5 cents a pound on Friday, a level last seen in March 2023. The material is used to make polypropylene plastics found in packaging, automotive parts and consumer goods. Tighter supply caused by the war in Iran has supported recent gains. Ethylene, a key feedstock for polyethylene, climbed to 33.5c/lb.
Methanol traded on the US spot marketed continued to firm, jumping to $1.425 a gallon, its most expensive since November 2021. Roughly one-third of global seaborne methanol trade moves through the Strait of Hormuz, and concerns over flows intensified after the US Navy moved to blockade Iranian shipping in the waterway on Monday.
Spot butadiene surged to 76 cents a pound, the highest since September 2022. Primarily used to make synthetic rubber, more than 70% of US consumption is tied to tire production, meaning shifts in availability can quickly tighten supply for US producers. US Gulf Coast spot prices (as of April 10):
Ethylene: 33.5c/lb vs 33c/lb prior week
Polymer-grade propylene: 61.5c/lb vs 59.5c/lb
Refinery-grade propylene: 55.5c/lb vs 54.5c/lb
Butadiene: 76c/lb vs 71c/lb
Methanol: $1.425/gal vs $1.375/gal
Benzene: $5.051/gal vs $4.511/gal
Toluene: $3.811/gal vs $4.051/gal
NGLs:
Ethane: 20.3c/gal vs 21.9c/gal
Propane: 73c/gal vs 73.4c/gal
Butane: $1.014/gal vs $1.022/gal
OUTAGES AND FLARING:
Enterprise Products Partners’ 750,000 metric tonne per year propane dehydrogenation, or PDH, unit in Mont Belvieu, Texas, flared on April 8.
Equistar Chemicals LP’s AB3 low density polyethylene (LDPE) unit in La Porte, Texas, experienced a process unit upset on April 8.
Chevron Phillips Chemical’s ethylene unit 1592 in Baytown, Texas had an emissions event on April 10.
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