Bank of America finds 35-40% of daily moves in LYB, DOW, and CF shares now tied to crude oil fluctuations.
A Bank of America analysis shows crude oil prices now drive 35% of daily share-price moves in Dow, LyondellBasell, and CF Industries, up from 12% before recent Strait of Hormuz tensions. For LyondellBasell, the figure hits 40%.
The Strait of Hormuz, handling 20.9 million barrels daily in early 2025, saw flows plummet to 4.9 million barrels per day in Q2 2026, down from 21.6 million in late 2025. The bottleneck affects global petroleum supply, impacting chemical feedstock costs.
The disruption links oil volatility directly to chemical equities, as oil is a key input for plastics, fertilizers, and industrial products.