Ningxia Baofeng Energy, which holds about a third of China's coal-to-chemicals capacity, reported H1 2026 profit of 9.73 billion yuan (about 48 billion baht), a record quarter in Q2 as crude prices rose on Middle East conflict and Hormuz disruption. Its coal feedstock stayed cheap while oil-based feedstock costs jumped. For a Thai SME this is background: it shows how oil-price spikes shift raw-material costs in petrochemicals, which can feed into plastic packaging and resin prices over time. No action needed now beyond watching resin and packaging supplier prices.