Crude oil and Pharma starting materials and intermediates

Crude oil is a raw material for pharma starting materials and intermediates; their prices have moved together.

Crude oil (energy) and Pharma starting materials and intermediates (chemical): 2 relationships.

How they are linked

1. Feedstock

Physical flow · Direct · Crude oil → Pharma starting materials and intermediates

Pharma starting materials and intermediates is made from crude oil: it is one of the raw materials its production routes start from.

2. Price link: distant feedstock

Cost and price · Weak · Both ways

Oil sets the cost of the base aromatics and olefins that intermediates start from. Monthly moves correlate at 0.07 and yearly at -0.11, little link because Chinese supply shocks, not oil, drive intermediate prices.

• 0.07 monthly change correlation
• -0.11 12-month change correlation
• 0.01 fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.