Tensions in the Middle East disrupt Serbia's chemical imports, supply chain concerns spread across Europe

On April 8, the United States and Iran announced a two-week ceasefire and agreed to begin negotiations. Iran subsequently stated that ships passing through the Strait of Hormuz may transit safely during the ceasefire period if coordinated with Iranian armed forces. Following this announcement, international crude oil futures prices, which had previously fluctuated sharply due to persistent tensions in the Middle East, plummeted instantly; New York WTI and London Brent crude oil futures both fell by more than 15%, breaking below the $100 per barrel mark. In the weeks prior, repeated turmoil in the Middle East resulted in extreme volatility across global energy markets—oil prices swung frequently between expectations of supply disruptions and signals of geopolitical de-escalation, with market sentiment oscillating between panic and watchfulness. As a critical supplier of global oil and chemical raw materials, any disturbance in the Middle East directly pushes up crude oil and basic chemical raw material prices through the energy logistics chain and supply network, creating a chain reaction throughout the petrochemical industry and resulting in a highly uncertain environment in the global energy and chemical markets. (CCTV)