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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
LyondellBasell shares slid due to tensions in the Strait of Hormuz that severely restricted shipping, impacting oil and refined product supplies. Sourcing naphtha, a key feedstock for the company, has become increasingly difficult. Additionally, shares of other companies fell due to President Trump's threats to destroy Iran's energy infrastructure, negatively affecting the market and prompting investors to flee to safety.