Deflate petrol by consumer prices and the real price of fuel in Britain in the three months before the war in Iran was lower than at any time since 2002 https://t.co/HGTpkK9ULf ...

Core Viewpoint - Formosa Petrochemical Corporation (FPCC) has declared force majeure on certain petrochemical shipments due to supply disruptions in the Strait of Hormuz, impacting its operations and output levels [1][5]. Group 1: Operational Impact - FPCC's No.2 and No.3 crackers are currently operating at approximately 70% capacity, with the possibility of shutting down one cracker if naphtha feedstock supplies are completely halted [1]. - The company is processing around 490,000 barrels per day (bpd) of crude, but some crude deliveries will be affected after March 20 due to ongoing shipping challenges [2]. - The No.1 cracker at the Mailiao complex remains offline indefinitely, marking the first time FPCC has kept a cracker offline for over a year, which reduces ethylene output by nearly 25% [3][4]. Group 2: Maintenance and Production Capacity - FPCC plans to shut its No.2 crude unit for scheduled maintenance in the coming days, with a total crude processing capacity of 540,000 bpd [3]. - The indefinite shutdown of the No.1 cracker has led to a decreased demand for imported feedstocks such as naphtha and liquefied petroleum gas [4]. Group 3: Market Context - The decision to invoke force majeure aligns with a broader trend among petrochemical producers globally, who are scaling back output or closing facilities due to oversupply and slim profit margins [5].