US Chemical Stocks Set to Gain From Higher Prices Sparked by War
The LyondellBasell refinery near the Houston Ship Channel in Houston, Texas.
Photographer: Ronaldo Schemidt/AFP/Getty ImagesUS-listed chemicals stocks are likely to benefit from tighter supply and higher prices fueled by the war with Iran, according to analysts.
Prices for Brent crude have surged by 14% over the past five days, driven by disruptions to Iran’s oil production and the critical transit route through the Strait of Hormuz. That’s helped boost the shares of petrochemical stocks like Dow Inc. and LyondellBasell Industries NV.