Crude oil, gas derivative prices to remain high till supply chains normalise, says Ind-Ra
Ind-Ra predicts that the ceasefire in West Asia will ease supply-shock fears and lower chemical costs, but prices will stay high until supply chains normalize. The conflict has disrupted global supply chains, causing downstream industries to suffer. India imports 15-20% of its chemical needs from the region, and value chains heavily reliant on Middle East sourcing or gas-based feedstocks.