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U.S., Iran strike deal to reopen Strait of Hormuz, sending oil lower

(Bloomberg) – The U.S. and Iran say they have reached a deal to reopen the Strait of Hormuz, setting the stage for talks on Tehran’s nuclear program and potentially ending a conflict that disrupted global energy markets and raised concerns over oil supplies.

2026-06-15 12:49:24

The United States and Iran confirmed that an agreement was reached, and international oil prices fell significantly.

Following confirmation of an agreement between the United States and Iran and expectations that the Strait of Hormuz will soon reopen, international crude oil futures prices fell sharply on the 14th as markets opened for the new week.

2026-06-15 12:36:51

Rising Costs Drove Up Market Prices for Phosphoric Acid

According to the commodity market analysis system of SunSirs, as of June 11, the reference average market price for domestic 85% industrial-grade thermal phosphoric acid stood at 10,925 RMB/ton; this represents a 5.30% increase from the reference average price of 10,375 RMB/ton recorded on June 1.

2026-06-15 12:24:59

Sinopec Yangzi Petrochemical shuts down entire PE plant; plastic prices rise in response

On June 12, 2026, important news emerged from the market that all polyethylene (PE) units at Yangzi Petrochemicals, a core supplier in the East China region, have entered a shutdown state. The restart time is currently undetermined, and the news has quickly stirred up the domestic plastics market.

2026-06-15 12:00:58

Oil prices drop by 2% as Trump calls off Iran strike plan

At 06:40 GMT, Brent had fallen by $2.11 (2.3%) to $88.27/bbl, while WTI had decreased by $1.90 (2.2%) to $85.81/bbl.

2026-06-15 11:48:50

Multiple departments issue three-year action plan for energy conservation and carbon reduction; petrochemical and refining units accelerate low-carbon transformation

The National Development and Reform Commission, in conjunction with multiple departments, has issued a notice to deploy the implementation of a three-year campaign for energy conservation and carbon reduction transformation in key industries. The document makes special arrangements for the green transformation of the refining and petrochemical industry:

2026-06-15 11:37:07

Kuwait cuts July crude oil selling price; Asian crude premium plunges by $7.5 month-on-month

Following the release of June crude oil pricing data, Kuwait Petroleum Corporation announced the official selling prices for July crude oil exports, comprehensively lowering the benchmark premiums for all crude oil grades shipped to Asian, European, and U.S. markets.

2026-06-15 11:25:32

Woodside moves to acquire PetroChina's 10.67% Browse JV stake

Under the terms of the acquisition, Woodside will pay CNPC $225m (A$319.13m) for the interest.

2026-06-15 11:13:05

Supported by Costs, the Formaldehyde Market Saw a Slight Rise

According to data monitored by SunSirs, the formaldehyde market exhibited a pattern of "step-like gains interspersed with narrow fluctuations" during the first half of June. The tug-of-war between supply and demand remained deadlocked, resulting in limited price volatility; each upward movement was followed by a brief period of price stabilization, indicating limited downstream acceptance and a lack of sustained momentum for price increases. As of June 11, the average price of formaldehyde in the Shandong region stood at 1,382 RMB/ton, marking a 0.91% increase since the beginning of the month.

2026-06-15 11:01:11

Henkel achieves carbon-neutral production at adhesives sites in Turkey and India

Henkel AG (Düsseldorf, Germany) announced that its Adhesive Technologies business unit has achieved carbon-neutral production at their flagship sites in Kurkumbh, India and Gebkim, Turkey. The factories have successfully eliminated Scope 1 and Scope 2 emissions, marking a significant step forward in Henkel’s ambition to decarbonize its operations by 2030. These achievements are further contributing to Henkel‘s science-based climate targets, which focus on reducing operational greenhouse gas emissions through energy efficiency, electrification, and the phase-out of fossil fuels, while scaling renewable energy across all production sites globally.

2026-06-12 18:37:00

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U.S., Iran strike deal to reopen Strait of Hormuz, sending oil lower

The United States and Iran confirmed that an agreement was reached, and international oil prices fell significantly.

Rising Costs Drove Up Market Prices for Phosphoric Acid

Sinopec Yangzi Petrochemical shuts down entire PE plant; plastic prices rise in response

Oil prices drop by 2% as Trump calls off Iran strike plan

Multiple departments issue three-year action plan for energy conservation and carbon reduction; petrochemical and refining units accelerate low-carbon transformation

Kuwait cuts July crude oil selling price; Asian crude premium plunges by $7.5 month-on-month

Woodside moves to acquire PetroChina's 10.67% Browse JV stake

Supported by Costs, the Formaldehyde Market Saw a Slight Rise

Henkel achieves carbon-neutral production at adhesives sites in Turkey and India