The war has severely disrupted regional petrochemical trade. Doha, Qatar‑Saudi Basic Industries Corp. reported a narrower second‑quarter loss helped by higher average selling prices across key products, but revenue declined on lower sales volumes.

Sabic, which ranks among the world’s largest petrochemicals manufacturers, said its net loss narrowed to 833 million Saudi riyals ($222 million) from 4.07 billion riyals in the same period a year earlier. Revenue fell to 24.81 billion riyals from 30.23 billion riyals.

Chief Executive Faisal Al‑Faqeer said Sabic’s strong balance sheet and disciplined approach to capital allocation would help it remain resilient amid geopolitical uncertainty, supply disruptions and elevated energy prices.

The quarter was marked by the U.S.–Iran war, disruptions to shipping through the Strait of Hormuz and higher energy and transportation costs. Commercial traffic through the waterway has slowed sharply, and Iran on Tuesday rejected an Omani proposal to divide control of shipping lanes evenly, complicating efforts to revive peace negotiations and restore reliable passage.