While the crude oil market was volatile, the LP gas market entered a period of non-demand, and demand for propane decreased. Butane petrified, demand for gasoline blends declined, and demand for alternatives to natural gas helped to soften the market. The Middle East market is locked down due to the re-expansion of corona infection in China, and while demand for PDH is sluggish and demand for Butane in the Asian market is stagnant, stocks in gas producing countries such as Qatar, Abu Dhabi, and Kuwait are high, and spot sales are carried out. The market has softened due to a strong sense of easing supply and demand. Crude oil market conditions continue to be highly volatile. The softening factor was concern about a decline in demand due to a significant increase in interest rates by the US financial authorities. Central banks in each country have also moved to tighten monetary policy as a measure against rapid inflation, raising concerns about a global recession. In addition, repeated lockdowns due to the re-expansion of corona infection in China also struck a chord. On the other hand, the supply and demand of fundamentals is tight. Strengthening sanctions on Russia, fear of supply suspension due to political instability in oil-producing countries (Libya and Ecuador), doubts about the effectiveness of OPEC Plus’s advancement of production increase, Saudi and UAE, which were thought to be able to afford it, also have little capacity to increase production. Came out. Russia’s invasion of Ukraine is not expected to end, and as heat waves hit the world, countries are rushing to secure carbon resources, SDGs and ESG investment are sickening, and high resources and global warming are unlikely to be stopped. (Source: Energy Intelligence Network, ENEOS GLOBE WeeklyReport)