Commodities
Escalating geopolitical tensions drive up commodity prices, boosting earnings across the petrochemical supply chain.
Sacks of polyester-making chemicals wait to be shipped from Hengli Petrochemical’s refining complex on China’s Changxing Island. © Reuters
TOKYO — Hengli Petrochemical, the Shanghai‑listed parent of a Chinese “teapot” refinery that the United States has sanctioned over alleged dealings with Iran, reported more than a doubling of profit for the first half of the year, spurring a wave of upbeat preliminary earnings from its industry peers.
