According to CoinMeta, as reported by Yahoo Finance, with the tensions in Iran increasing and the oil transportation through the Strait of Hormuz being affected, oil price fluctuations have begun to significantly impact chemical stocks. According to the latest report from Bank of America, since the escalation of the conflict, about 35% of the stock price fluctuations in LyondellBasell Industries, Dow, and CF Industries are related to crude oil prices, while this proportion for LyondellBasell even reaches 40%. The U.S. Energy Information Administration (EIA) states that in the first half of 2025, the Strait of Hormuz transported 20.9 million barrels of oil and oil products per day, accounting for nearly 20% of global oil consumption. However, in the second quarter of 2026, oil flows through the Strait of Hormuz dropped to just 4.9 million barrels per day, causing a significant rise in crude oil prices, with Brent crude reaching $105 per barrel on July 23. Bank of America also points out that rising oil prices are not necessarily unfavorable for chemical companies, as American companies rely more on low-cost natural gas liquids as raw materials.