Shares of chemical and coatings companies are trading higher as fading expectations for further U.S.-Iran negotiations on free maritime transport through the Strait of Hormuz mean that shortages of specialty petrochemicals and other feedstocks may persist for longer.

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Keybanc Initiates Coverage On LyondellBasell Industries with Sector Weight Rating

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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.