Rising oil prices linked to the Middle East crisis are driving up the cost of plastics, with impacts spreading across global supply chains.
According to UN trade and development body, UNCTAD, the price of key materials such as polyethylene has surged sharply in recent weeks, reflecting the steep rise in crude oil prices.
When oil prices surge, the impact goes far beyond fuel. It runs through global trade - embedded in plastics, packaging and synthetic fibres that underpin modern supply chains.
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.