AI Summary

The European chemicals sector finished its first quarter with weaker results than many had feared, yet the outcomes were still better than analysts had expected. The downturn was driven largely by a supply shock originating in the Middle East, which disrupted Asian petrochemical producers. The shock stemmed from a sharp decline in naphtha and other feedstock supplies coming from the Persian Gulf. As a result, the industry’s performance in the quarter reflected the broader regional supply constraints.

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