KUALA LUMPUR, March 16 (Bernama) — The Malaysia Plastics Manufacturers Association (MPMA) today cautioned that escalating conflict in the Middle East is beginning to impact global supply chains for petrochemical materials, creating cost pressures and potential supply constraints for the plastics manufacturing sector.
The ongoing conflict has disrupted shipping routes around the Strait of Hormuz, one of the world’s most critical energy corridors. The uncertainty surrounding oil supply and logistics has pushed global crude oil prices up sharply, rising from approximately USD60 to USD70 per barrel to above USD110 per barrel in recent weeks.
