Isooctanol prices rebound and rise

Isooctanol prices rebound and rise
On July 8th, the price of isooctanol was 6766.67 yuan/ton, which rebounded from the price of 6733.33 yuan/ton on July 7th, with an increase of 0.50%. On July 8th, the price of isooctanol stopped falling and rebounded. Mainstream isooctanol manufacturers raised their prices, and the isooctanol market stopped falling and rose.
The escalation of geopolitical games in the Middle East
On July 7th local time, the Office of Foreign Assets Control (OFAC) of the US Treasury Department officially revoked the exemption permit for Iran’s oil sales sanctions, terminated the previously relaxed cross-border sales policy for Iranian crude oil and petrochemical products, and fully restarted relevant sanctions. The core cause of the policy shift is the recent attack on oil tankers in the Strait of Hormuz. The US has determined that Iran’s actions violate the temporary consensus between the two sides, and therefore urgently tightened energy sanctions against Iran. After the tightening of sanctions was announced, the market was concerned that the temporary ceasefire agreement between the United States and Iran would essentially break down, the geopolitical game in the Middle East would escalate, and the international crude oil market would quickly and significantly rise.
Propylene costs rebound and rise
On July 8th, the propylene price was 7821 yuan/ton, a decrease followed by an increase of 0.13% compared to the propylene price of 7811 yuan/ton on July 1st. The price of propylene has increased by 2.27% compared to July 6th at 7647.67 yuan/ton. The tightening of US oil sanctions on Iran, the shipping safety crisis in the Strait of Hormuz, and the escalation of US Iran confrontation have led to an increase in crude oil prices, which have been transmitted downstream. The rebound in propylene prices has caused an increase in the cost of isooctanol, and the support for its rise has increased.
Future prospects
Analysts believe that on the cost side, the geopolitical game in the Middle East has once again escalated, with crude oil and propylene rebounding and rising, and downstream chemical industries likely to follow suit with crude oil. The cost support for isooctanol has increased. In the future, the geopolitical game in the Middle East has once again escalated, and the cost pressure of isooctanol has increased. Isooctanol has stopped falling and risen, and weak demand has suppressed the upward space of isooctanol. The price of isooctanol is likely to consolidate strongly in the future.