As returns disappoint and growth capex resets, investor activist pressure could rise toward commodity chemical and critical mineral players, especially those with stretched transition projects
General Thoughts: On average, global crude oil refinery and ethylene margins look better YTD – until you dig deeper. Do not mistake falling costs for
General Thoughts: A global petrochemical power shift is underway—collapsing costs, currency and trade chaos, and a slowing green push collide to reshape trade, challenge US
Though under pressure now, US building and construction may be the market’s most mispriced rebound story—overlooked not due to its weak current fundamentals, but because
1st Topic of the Week: Rising rates, falling margins, and investor caution redefine energy strategy—who adapts fast enough: capital-heavy cleantech, margin-thin chemicals, or oil firms
Global Market Analysis From Shale to Shanghai: Global Strains, Local Ambitions, and Feedstock Balancing Acts Key Findings Exhibit 1: Europe and Asia natural gas prices
General Thoughts: US ethanol producers face negative margins amid overproduction, with biofuel policy support in the US as a potential demand driver positioned to tighten
US commodity chemical equities have underperformed YTD, following a period of significant underperformance in 2H24, as global trade uncertainties have boosted concerns surrounding its already
General Thoughts: Though global efforts to shift away from fossil fuels have been put under pressure lately, this trend will unlikely persist long term –
General Thoughts: Global spot polymer prices were, on average, lower WoW, with US and European prices falling relative to Asia – crude oil price weakness
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