Due to the Russian-Ukrainian war, the United States issued a ban on Russian energy products, which greatly pushed up international oil prices. In the next period of time, the prices of chemical products using crude oil as raw materials will usher in fluctuations, which in turn will affect the prices of end products, such as daily consumer goods, textiles, and plastic products. In the long run, this event will have an impact on the gasoline-powered automobile market, and promote the development of the new energy vehicle market.
Note: the above information is from GRD Survey analysts, if need cite, please indicate the source.
The above picture comes from Trading Economics