Why do Alcohols & Ethers prices track feedstock and crude so closely?

Why do Alcohols & Ethers prices track feedstock and crude so closely?
Alcohols & Ethers sit at the end of a long cost chain. Crude moves propylene and propylene oxide, which feed the propylene glycol ether route, while ethylene-linked grades follow a parallel path. When oil rallies, the whole category reprices together, and the pass-through is often faster than downstream coatings makers can absorb. Recent episodes show glycol ether grades rising several hundred yuan per ton in a single window, outpacing resin increases. That asymmetry squeezes formulators and forces reformulation or price hikes, making feedstock direction the single most watched variable for this category.