In July 2026, the petrochemical market was affected by repeated geographical disturbances in the Strait of Hormuz and a phased correction after crude oil prices surged up. Combined with multiple factors in the traditional off-season demand, the overall pattern was weak. The refining chain followed the decline in costs, and the decline was clearly differentiated; the overall decline in the aromatic hydrocarbon chain was affected by the continued resumption of production capacity, and pure benzene had strong toughness supported by independent supply and demand; the olefin sector was divided, and the decline resistance of tight supply products was outstanding. Entering August, the downstream “gold nine silver ten” pre-stocking cycle begins. Combined with bottom geographical support for crude oil and support from industry storage, the market is expected to break out of the weak off-season market and usher in a structural repair window.

In July 2026, the petrochemical market was affected by repeated geographical disturbances in the Strait of Hormuz and a phased correction after crude oil prices surged up. Combined with multiple factors in the traditional off-season demand, the overall pattern was weak. The refining chain followed the decline in costs, and the decline was clearly differentiated; the overall decline in the aromatic hydrocarbon chain was affected by the continued resumption of production capacity, and pure benzene had strong toughness supported by independent supply and demand; the olefin sector was divided, and the decline resistance of tight supply products was outstanding. Entering August, the downstream “gold nine silver ten” pre-stocking cycle begins. Combined with bottom geographical support for crude oil and support from industry storage, the market is expected to break out of the weak off-season market and usher in a structural repair window.