Shares of chemical and coatings companies are trading higher after reports suggesting that the Iranian government will try to delay a deal with the U.S. An impasse may mean that bottlenecking of feedstock cargoes may continue with limited Strait of Hormuz marine passage.

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Keybanc Initiates Coverage On LyondellBasell Industries with Sector Weight Rating

Keybanc analyst Salvator Tiano initiates coverage on LyondellBasell Industries (NYSE:LYB) with a Sector Weight rating.

Shares of chemical and coatings companies are trading lower amid optimism regarding the U.S.-Iran dispute and improved transport through the Strait of Hormuz. More chemicals and feedstocks exiting the Persian Gulf may hinder pricing power and margins for companies that benefited from recent product shortages.