What are the reasons for the fluctuation of global chemical costs?

The fluctuation of global chemical costs is mainly influenced by the following factors:
Energy cost fluctuations
The fluctuation of energy prices such as oil and natural gas directly affects the production cost of chemical industry. For example, the Middle East conflict may lead to an increase in international oil prices, which in turn will drive up the cost of petroleum based chemicals such as asphalt and polyolefins.  ‌
Imbalance between supply and demand
The demand side is driven by the global economic recovery and emerging industries such as new energy, while the supply side is affected by environmental policies, geopolitics (such as Iran's power outage), and corporate maintenance, exacerbating cost pressures due to temporary shortages. For example, Iran's cut-off of supply to China has led to fluctuations in the prices of chemicals such as methanol and urea.  ‌
Increased transportation costs
The transportation of hazardous chemicals is affected by geopolitical factors (such as strait blockades), leading to an increase in logistics costs and indirectly raising the overall cost of chemicals.  ‌
Policy and environmental pressure
The EU's carbon tax policy and the increase in environmental standards have forced companies to increase their environmental investment, causing some production capacity to exit the market and exacerbating the shortage of raw materials.  ‌
Market Expectations and Monopoly
The market's expectation of demand growth drives hoarding, while a few companies intensify market volatility by controlling production and raising prices.  ‌