Dow (DOW) CEO Estimates 275 Days to Clear Hormuz Logjam

AI Summary

Dow (DOW) CEO Jim Fitterling stated that clearing the logistical disruption in the Strait of Hormuz could take at least 275 days, even if the strait reopens immediately. The shutdown has affected 20% of global oil capacity and disrupted around 50% of global ethylene and polyethylene production. The pricing of key petrochemical inputs has surged, with reported increases of 10 cents per pound in March and projected additional increases of 30 cents in April and 20 cents in May. Dow's share price has risen approximately 65% this year, influenced by these market dynamics.