Naphtha is utilized to create various products, such as solvents, laundry soaps, plastic wraps, paints, glues, rubber goods, and labels.

As reported by Nikkei, 40% of Japan's naphtha demand is fulfilled by domestic refining, while another 40% is sourced from imports from the Middle East.

The operation by the US and Israel against Iran has successfully blocked the Strait of Hormuz, affecting supply chains.

On April 5, Japanese Prime Minister Sanae Takaichi announced that Japan has imported naphtha stocks and domestic production equivalent to two months’ worth of consumption, along with manufactured goods, such as polyethylene, enough for an additional two months.

source: asia.nikkei.com

 

According to Kpler data, over 500 million barrels of crude oil and condensate have been removed from the global market since the crisis started in late February, marking the most significant disruption to energy supplies in contemporary history.

Ian Mowat, lead analyst at Wood Mackenzie, states that the market's loss of this oil volume equals a 10-week drop in global aviation demand, an 11-day total halt of global road traffic, or a five-day oil shortage for the global economy.

As per estimates from Reuters, this amount is almost equivalent to a month’s oil usage in the United States. The report indicates that 500 million barrels of oil could sustain the global shipping industry for duration of four months.

According to Johannes Rauball, senior oil analyst at Kpler, the missing volumes due to oil prices averaging about $100 per barrel since the onset of the conflict represent an estimated $50 billion in lost revenue.

source: reutes.com

 

IRIB reported that "there are no ongoing plans to engage in the upcoming Iranian-US discussions."

The day before, US President Donald Trump stated that discussions with Iran would take place on the evening of April 21 in Islamabad. The initial round of discussions occurred on April 11.

As reported by the Iranian news agency IRNA, Iran declined to join the discussions because of the US's "unreasonable expectations and excessive demands." Axios reports that Iranian officials believe the discussions with the American delegation might be a guise for a forthcoming assault.

source: iribnews.ir

 

At Frankfurt Airport, the largest in Germany, around 75% of Lufthansa's 350 planned flights have been canceled.

The strike commenced at midnight local time and continued until 10:00 PM Friday.

This kind of protest poses significant issues since it marks the final day of the Easter holidays in Europe, with many travelers returning home from their vacations.

The UFO union called employees of Lufthansa and its regional affiliate Cityline to strike. Union representatives have been discussing salary hikes with company leadership for multiple months.

The strike by flight attendants represents the third significant demonstration by workers in the sector this year. Lufthansa pilots have staged strikes on two occasions prior.

source: dw.de

 

“Regardless of the international circumstances (...), the significant wave of reconciliation and unity among compatriots on both sides of the Taiwan Strait will remain unchanged.” The Chinese leader stated that “this is historically unavoidable.”

He added that “Taiwan independence” is the primary source of friction in the Taiwan Strait.

“We will definitely not accept this and will not permit it,” he noted.

In reply, Cheng Li-wun remarked that they would “collaboratively initiate the project to restore Chinese civilization.” She guaranteed that “the communities residing on either side of the Strait will honor one another and progress toward one another.”

The meeting between the Chinese president and delegates of Taiwanese parties is an uncommon occurrence. This marks the first interaction between Xi Jinping and the head of the Kuomintang Party in ten years.

Cheng Li-wun arrived to mainland China earlier this week and toured various cities, including Nanjing.

source: bbc.com